Headline: Marathon Oil targets most of 2012 budget for Eagle Ford Shale.
Wow! That caught my attention. It's accurate, but not as "bad" as it appears:
- CAPEX: $5 billion
- 65% of CAPEX "is targeted to liquids-rich US assets including the South Texas Eagle Ford"
- Marathon oil will drill 250 - 300 net wells
- $3 billion allocated for Eagle Ford shale, the Bakken, the Anadarko Woodford, and the Niobrara
- Eagle Ford: ramp up to 17 rigs; 155 - 170 net wells; add 2 more fracking crews; total 4
- Bakken: 55 - 70 net wells
- Anadarko Woodford (Oklahoma): 25 - 35 net wells
- Niobrara (DJ basin, southeast WY and northern CO): 15 - 25 net wells
From wiki:
The Eagle Ford shale play area starts at the Texas-Mexico border in Webb and Maverick counties and extends 400 miles toward East Texas. The play is 50 miles wide and an average of 250 feet thick at a depth between 4000 and 12,000 feet. The shale contains a high amount of carbonate which makes it brittle and easier to use hydraulic fracturing to produce the oil or gas.[2] The oil reserves are estimated at 3 billion barrels with potential output of 420,000 barrels a day.Everyone agrees the Bakken has 2 - 4 billion bbls of recoverable oil. It's current output is already 510,000 bbls a day and should easily get to 1 million bopd. Some opine there is much as 24 billion bbls of recoverable oil in the Bakken.
How do the Eagle Ford wells compare to the Bakken wells for production?
ReplyDeleteI haven't followed the Eagle Ford closely enough to say, but so far I have not been impressed with the Eagle Ford in comparing individual wells with the Bakken.
ReplyDelete