Chesapeake Announces Plans to Further Develop the Eagle Ford

Oil & Gas Journal is reporting.

Data points:

Chesapeake let a contract with Strategy Engineering & Consulting for the design of a central production unit in the Eagle Ford shale

• San Pedro sweet-oil unit: 30,000 bopd
• to start 3Q12
• Strategy Engineering and CHK working on full field development of CHK's Faith Ranch acquisition (Dimmit, Maverick, and Webb counties)

About Faith Ranch (from the website):

Faith Ranch was carved out of the Indio and Chupadera Ranches.  Houston lumberman and oil man J.M. West, Sr. purchased the 78,000 Chupadera Ranch (Dimmit, Webb, and Maverick Counties) in 1932 and the Indio Ranch (Maverick and Webb Counties) in 1940.  His son, Wesley West, divided these ranches with his brother’s family in 1960.  Wesley took the contiguous middle of these two ranches and called it the Faith Ranch.  The Faith Ranch spans over 40,000 acres and is today owned by the descendants of J.M. West, Sr.

The three counties are contiguous, two bordering Mexico, and the third touching Mexico, along the Rio Grande, north of Laredo and south to include Laredo, in Webb County.
Chesapeake's Faith Ranch prospect: about 38,000 net acres; all hydrocarbons: oil, wet, dry gas