Strike Energy Eagle Ford Development Advancing

Strike Energy is continuing on from a recent acreage deal in the South Texas Eagle Ford and is now raising capital to fund development. The company's recent deal included acreage in Fayette County, TX. While $17 million won't get you far in the Eagle Ford, it is enough to drill a couple of pilot wells to better understand your acreage.

"The company will raise $7.4 million through a placement at 15 cents a share with private equity investor M H Carnegie & Co taking 50 per cent of the shares on offer and lead manager Blackswan Equities placing the balance of shares with clients.""Strike said the funds raised would be used to advance its Eagle Ford Shale project in Texas and the Wilcox formation slope play in Louisiana and provide additional working capital."

"Strike's managing director Simon Ashton said he believed that some of the company's new assets had the potential to be 'game-changing' energy assets."

Read the full news release at TheWest.com.au

Eagle Ford Lease Bonuses Making Land Owners Millionaires

Eagle Ford lease offers are going out daily, so if you own land in South Texas expect to hear the landman knocking. Lease bonuses are several thousand dollars per acre in areas of proven production potential and operators are making land owners millionaires over night. For more on leasing activity visit MineralRightsForum.com.

"Frenzy over the Eagle Ford Shale oil and gas prospect is turning lucky mineral rights owners into millionaires overnight. But in a rush to cash in on the opportunity, costly mistakes are being made that will leave many learning lessons about legal issues the hard way."

“ 'The devil is in the details,' says attorney Robert A. Schaezler, of The Schaezler Law Firm.  'When there’s so much money at stake, it’s important to keep a cool head and make sure you get the law on your side.' “

"To help ensure that, there are three key questions he recommends mineral rights and landowners should ask themselves:

First, where do you stand?

Second, what are your rights?

Third, what should you look for in a lease?"

Read the full news release at GonzalesInquirer.com

Baker Hughes San Antonio Office Coming

Baker Hughes unveiled plans to build a $30 million facility in Southeast Bexar County, near San Antonio.  The building will be Baker Hughes' Eagle Ford Shale and South Texas Headquarters. The office will ad as many as 400 Eagle Ford jobs to the area. The Eagle Ford Shale has created a job boom in San Antonio, as well as much of South Texas. As development expands, the number of job openings looks like it has only one way to go.

"Oilfield supplier Baker Hughes Inc. on Tuesday disclosed plans to build a $30 million operations center in Southeast Bexar County to support the booming activity in the Eagle Ford shale, eventually providing more than 400 jobs, officials said."

"The Houston-based company said it will develop 64 acres at Interstate 37 and U.S. 181 to establish an administrative headquarters serving South Texas. The plans were made public at Bexar County Commissioners Court, which authorized negotiations on a 10-year tax break for the operation."

“ 'This is a big deal,' said County Judge Nelson Wolff, who embraced the proposal saying it would be good for South Side job development. 'We've all been working on this, and I really hope this comes together right,' Wolff said."

Read the full news release at MySanAntonio.com

Oil Worker Housing Popping Up Across South Texas

Oil worker housing is in short supply and we're beginning to see some investment step in to meet the need.  Oil field workers are coming in from all parts of the state as companies capitalize on the drilling boom in the Eagle Ford.  When you consider just how rural some of these counties are, we're going to need more than just housing.  These guys need restaurants, gas stations, retail stores and more if we want them to stay in South Texas. Also, pick from the many hotels, man camps, and service providers at our Eagle Ford Shale Housing page

"A logistics company is looking to cash in on the massive eagle ford shale oil deposit by building a camping lodge just outside the small community of Three Rivers. The Chamber of Commerce there says the facility will fill a major need in that community because oil field workers were having a tough time finding a place to stay. "

Read the full news release at kiiitv.com

Eagle Ford Shale Permits in South Texas

Conoco, Enco Exploration and Swift Energy all filed for permits last week. 

"Bee CountyThe Enco Exploration Co., of Corpus Christi, has filed permits to drill two wildcat wells. The No. 2 Koenig, with a proposed total depth of 4,500 feet, will be located 3.1 miles northwest of Beeville in the J. M. Uranga Survey A-68. The No. 1 Byars-Seale Unit, which has a proposed total depth of 5,000 feet, will be drilled seven miles northwest of Beeville in the same survey."

"Duval County

Sanchez Oil and Gas of Houston has filed for permits to drill two 3,500-foot wells in the Lopez field. The Nos. 2 and 3 Santerra will both be located 14.7 miles southwest of Freer in Section 383 of the M.H. Chatham Survey A-1914."

"Live Oak County

Burlington Resources Oil & Gas of Houston has filed for a permit to drill a 13,000-foot horizontal well in the Eagleville (Eagle Ford-2) field. The No. 1 Guerra Unit A will be located 19.1 miles northwest of Three Rivers in Section 173 of the W. Cairns Survey A-155."

"McMullen County

Swift Energy Operating of Houston has filed a permit to drill a 12,500-foot horizontal well in the Hawkville (Eagle Ford Shale) field. The No. 3H Discher EF will be located 7.4 miles northeast of Tilden in the M. Byrne Survey A-2."

Read the full news release at caller.com