Topic: Eagle Ford Shale

New Well Highlights from Bone Spring, Haynesville, & Eagle Ford

EOG Resources fracs Bone Spring well in Permian (2018-10-13) EOG Resources completed an extended-lateral well in Lea County, New Mexico.The Dragon 36 State #302H flowed 11,180 bbl of oil and 1,638 MMcf of gas, producing x monthly boe. It was drilled to a vertical depth of 10,257 ft with a measured depth of 15,200 ft. EOG Resources reported flowing tubing pressures of 411 PSI, a 1 inch choke size and a gas-oil ratio of 147 Mcf/bbl. Sabine Oil and Gas Completes 2-mile...

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Delaware, Eagle Ford, Bakken, and SCOOP New Well Highlights

Tidal Petroleum Uses 7.5 Million Pounds of Frac Sand and 2459 bbls HCL Acid (2018-08-13) An Eagle Ford well was completed by Tidal Petroleum in Karnes, Texas. The Moy South 1H produced 24-hour IP rates of 2644 bbl of oil, 1,584 MMcf of gas, and 216 bbl of water along the 3,546 lateral. Enterprise Products is the gatherer for crude, condensate, and gas for the pad. Tidal Petroleum reported flowing tubing pressures of 4900 PSI and a 22/64 choke size. Discovery Natural...

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West Texas inSANDity Continues in the Permian

Last week in Houston at the Frac Sand Supply & Logistics Conference, all signs pointed towards more sand per lateral foot, more mines in the Permian, and more trucks to deliver frac sand to the wellsite. Frac sand demand in the Delaware and Midland Basins is expected to increase. E&Ps have increased the proppant per lateral foot by 31% in the last year, with public E&Ps citing the transportation and logistics constraint as a concern, not frac sand supply. Regional replacement? Based on...

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Is History Repeating in the US Pressure Pumping Market?

Since 2012, the percantage of horizontal rigs running in the Permian Basin has steadily increased. The percent of horizontal rigs in the Permian grew from 14% in January 2013 to 27% in January 2015. Now, the Permian accounts for over 42% of the active horizontal rigs in the US land market.This year the Permian gained 100 horizontal rigs, a 46% increase in horizontally directed rigs. The year-over-year horizontal rig increase is a staggering 174% for the prolific basin. At this...

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A Shortage of Frac Sand Will Bring Supply Chain Challenges

Many oilfield service and supply companies, including Halliburton (NYSE: HAL), Hi-Crush (NYSE: HCLP), U.S. Silica (NYSE: SLCA), and Fairmount Santrol (NYSE:FMSA) have cited a shortage of frac sand for the U.S. shale plays, specifically 40/70 in the Permian Basin.Advancements in the horizontal drilling and completion techniques of leading shale E&P’s are driving frac sand demand to new high points. The significance of multi-well pad drilling in the Permian increased each of last several years, even during the downturn. In...

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Pioneer Energy Services Banks on Increased Activity in 2017

On February 17, 2017, Pioneer Energy Services (NYSE: PES) shared with investors its Q4’16 results and some details from its Q1’17 guidance. The company’s drilling rig utilization was 48% in Q4’16, up from 38% in Q3’16; for Q1’17, utilization is expected to increase to 70-73%.Forty-one percent of PES’ TTM revenue came from its US drilling services and 57% from its production services, encompassing well servicing, wireline, and coiled tubing:Source: Pioneer Energy Services Investor Presentation, February 2017 The company reported that some...

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Sanchez Energy (NYSE: SN) Expects to Double Production in 2017

Sanchez Energy Corporation (NYSE: SN) had a blockbuster 2016, partnering with Blackstone the companies acquired Anadarko’s acreage in the Eagle Ford which is expected to close in the first quarter of 2017. This acquisition adds 132 DUCs, 3,400 drilling locations and 67,000 net Boe per day. The company optimized its well design in Catarina decreasing drilling and completion costs which are currently around $3 million per well.     In 2017, the company is expecting to spend $425 to $475 million and increasing...

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Marathon Unveils $2.2 Billion 2017 Capital Program

On February 15, 2017, Marathon Oil Corporation (NYSE: MRO) announced results from Q4 and FY 2016 and unveiled a 2017 capital program of $2.2 billion, with over 90 percent allocated to its high-return U.S. resource plays. Oklahoma Led Production in the Fourth Quarter On the operations side, Marathon’s production averaged 341,000 BOED in Q4 2016, with assets in the Oklahoma Resource Basins reporting a production increase of 60% over Q4 2015. E&P production costs for North America were down more than 30%...

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