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Talisman Energy's Eagle Ford operations didn't contribute to the lower production volumes, but a shortage of skilled labor is keeping the company from ramping up as quickly as Talisman would like. The Eagle Ford benefits from oil, condensate and NGL production that dry gas plays don't provide. The higher priced commodities allow operators to continue drilling even though the gas stream might not be prolific enough to make a commercial well.
But the company’s woes have hit areas where the it is searching for more lucrative commodities. The Eagle Ford shale play, for example, is one area where Talisman has directed spending in search of liquids-rich natural gas, such as butane and propane, because these products command higher prices. However, Eagle Ford’s growth has been hampered by a shortage of service crews, such as hydraulic fracturing outfits, Ms. Buckland said.
Read the entire news release at theglobeandmail.com
We're experiencing an oil boom in South Texas, but there are still lots of people job hunting. The great thing about the oilfield is it creates lots of jobs and opportunities. There were an estimated 1,000 jobs on display yesterday at the Beeville, TX, job fair and visitors trumped expectations when as many as 2,000 people visited potential employers. Visit the Eagle Ford Jobs Page to search open positions in the South Texas oilfield.
Skilled or unskilled, from across Texas and out of state, at least twice as many people as the 1,000 jobs 24 employers sought to fill converged on the Bee County Exposition Center on Tuesday.
Two hours in, the company was running low on informational cards for attendees to fill out, putting attendance well above the 1,000 mark. Robbins estimated attendance approached about 2,000 people, all seeking good pay ranges and relatively close-to-home work, which included jobs out in the fields, on the roads and in offices.
Eleven well permits were reported in the Caller's Oil & Gas Report. The most significant of those are two 21,000 ft permits by Pioneer Natural Resources. Both wells were permitted in Live Oak County, with one in the Sugarkane field and one in the Eagleville field. Longer laterals are the trend in shale plays. Drilling an extra foot or thousands of feet is much more efficient than drilling multiple wells. Of course, there is a point of diminishing returns due to technical limitations, but operators are routinely drilling 10,000 ft laterals in other shale plays.
GeoResources expects it will spend approximately $120 million in 2011 and between $188 and $223 million in 2012. Between $74 and $86 million will be spent in Fayette and Gonzales Counties in 2012. Approximately 95% of the company's capital budget is dedicated to the Bakken and Eagle Ford shale development areas. Other highlights include:
The Company recently successfully completed drilling its fourth Eagle Ford well, the Peebles #1H (39.8% W.I.) in its operated project area in Fayette County, Texas. This well was drilled to a measured depth of 15,100 feet, with a 5,000 foot lateral in 27 days at a cost of approximately $3.0 million. Through the application of optimal practices, GeoResources was able to significantly reduce the drilling time and cost of this well. The Company believes it can continue to realize improved drilling, completion and operational efficiencies which will positively impact costs in this area.
The Company is currently drilling the Arnim “A” #1H well (50.0% W.I.) with a second dedicated rig expected to begin drilling the Ring “A” 1H well (45.7% W.I.) within a couple of weeks, both of which are located in Fayette County, Texas. After drilling the Arnim “A” #1H, the rig will spud the Arnim “A” #2H (50.0% W.I.), which will be the second well in the Arnim “A” unit drilled from a common pad. These three wells will be completed along with the Peebles #1H well late in the fourth quarter with one frac crew working continuously to complete these wells in succession. After the Arnim “A” #2H, we expect to spud an additional one or two wells in our Eagle Ford project area by year end, which will bring our total 2011 Eagle Ford wells spud to eight or nine gross wells (3.8 to 4.3 net wells).
GeoResources currently plans to add two additional rigs to the Eagle Ford project area during 2012. Based on a three to four rig schedule the Company expects to spud between 21 and 24 gross wells in its Eagle Ford project area in 2012 (8.7 to 9.6 net wells).
GeoResources has continued to add leases to its Eagle Ford project area throughout 2011 and its current net acreage totals approximately 25,000.
In addition to the Eagle Ford, we believe our acreage in Gonzales and Fayette counties has Austin Chalk potential, which lies immediately above the Eagle Ford. A re-entry, located within the boundaries of our southern Fayette County acreage block, was completed in February 2011 by a third party operator. That well, the Cherry Oil Unit 1H, averaged 402 boe/d in the first full month of production after the re-entry and has cumulative production of over 46,000 BO and 41,000 Mcf. We are currently participating with that same operator in a Chalk well, located about three miles to the southwest, being the Tilicek #1H well, where we have a 14.1% W.I. The Tilicek well reached total measured depth of 13,529 on September 19, 2011 and should be on production very soon. This well had considerable oil shows during drilling and also had a 30’ gas flare. We currently have one additional Austin Chalk well planned for Fayette County in 2012; however, we may accelerate our Chalk drilling
Read the entire press release at georesourcesinc.com
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