Eagle Ford Continues to Drive EOG's Long-Term Crude Oil Growth
OREANDA-NEWS. The Eagle Ford continues to drive EOG's long-term crude oil growth. Each year since its operations began five years ago, EOG has improved per-well productivity and successfully downspaced wells through advancements in completion technology. Estimated potential net reserves have grown 250 percent from 900 million barrels of oil equivalent (MMBoe) in 2009 to 3.2 billion barrels of oil equivalent today.
EOG has over 5,500 remaining net well locations in the Eagle Ford - over a decade of drilling. This world-class play will continue to be EOG's primary source of returns and growth for years to come.
During the fourth quarter of 2014, the Eagle Ford continued to deliver impressive well results across EOG's acreage. The Korth Unit 6H through 9H had initial production rates ranging from 3,955 to 5,480 barrels of oil per day (Bopd), 355 to 535 barrels per day (Bpd) of NGLs and 2.1 to 3.1 million cubic feet per day (MMcfd) of natural gas. This four-well pattern drilled in Karnes County initially produced over 19,000 Bopd, 1,700 Bpd of NGLs and 10 MMcfd of natural gas, collectively.
On the western side of EOG's Eagle Ford acreage in La Salle County, the Naylor Jones Unit 14-1H and 15-1H had initial production rates of 2,460 and 2,850 Bopd, plus 165 and 190 Bpd of NGLs and 975 thousand cubic feet per day (Mcfd) and 1.1 MMcfd of natural gas, respectively. In McMullen County, the Los Compadres Unit 1H was brought online at an initial production rate of 2,535 Bopd, with 180 Bpd of NGLs and 1.1 MMcfd of natural gas.
In 2015, EOG will execute a balanced drilling program across the length of its Eagle Ford acreage. Due to advancements achieved in the western acreage during the last two years, returns are competitive with the east and a balanced drilling program will maximize operational efficiencies. EOG plans to complete about 345 net wells in the Eagle Ford compared to 534 in 2014.