Women's Energy Network Starts South Texas Chapter - Press Release

Womens Energy Network

The Women's Energy Network (WEN) has started a South Texas Chapter.

With the Eagle Ford oil & gas boom, there are more energy professionals than ever in the area. The group celebrated their launch this past week at Tesoro's offices and will be holding more regular events throughout the year.

Learn more about joining at womensenergynetwork.org

The Women's Energy Network is an international organization that provides networking opportunities and fosters career and leadership development. Almost 2,000 women are members of the group.

The Women’s Energy Network is an organization exclusively for women in the energy industry. Founded in 1994, WEN now has seven chapters throughout the country: Appalachia, Greater Atlanta, Houston, North Texas, South Texas, Southeast Louisiana, and Washington D.C. WEN offers the exclusive opportunity to learn from some of the field’s most experienced women, or take on a leadership role and advise others in advancing their careers. Nearly 2,000 professional women in the industry have already plugged into the resources and networking opportunities offered through WEN.

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Newfield Moving To Pad Completions and Driving Costs Down

Newfields Eagle Ford Focus Areas

Newfield (NFX) is one of the first to show what I expect we'll see from others later in the year.

NFX's Eagle Ford production was down in the first quarter, BUT it will surge in the second quarter when well pads that are already drilled are completed.

Others will experience this as well. Pad drilling will make production profiles look much more choppy than they have been to date.

Newfield drilled six new super extended laterals from in the quarter and lowered its well costs by $400,000 per well to $7.8 million. Recent well costs have fallen to $7.7 million. That's a good trend that will improve realized returns. The Eagle Ford is yielding returns that rank among the highest in the company.

“Our Eagle Ford returns are among the highest in the company.”

— Gary Packer, COO

The company is running two rigs and plans to drill most of its wells from common pads. Newfield produced approximately 5,200 boe/d in the fourth quarter of 2012, 4,830 boe/d in the first quarter of this year, and is expected to produce 7,000 boe/d in the second quarter of 2013. Newfield expects to exit the year producing approximately 14,000 boe/d.

Production growth is expected to be 75% in 2013 and 50% in 2014.

Read the full press release at newfield.com

Eagle Ford Oil Production Growing Twice As Fast As Thought - Bentek

Eagle Ford Oil Production Forecasts

Eagle Ford crude oil production has grown twice as fast as anyone thought just two years ago. That was the message delivered at day 2 of Bentek's annual Benposium.

Rusty Braziel, founder of RBN Energy, compared the company's forecast from two years ago to what the company expects today. What was predicted as production for 2016 in 2011 has already been eclipsed! In 2011, Bentek expected Eagle Ford oil production would eclipse 800,000 b/d sometime in 2016.

Well, the play eclipsed 800,000 b/d sometime at the end of 2012 and is now expected to produce more than 1.4 million b/d by 2016. How's that for impressive production growth.

Other highlights from the conference included:

• The average Eagle Ford well drilling time is estimated at 20 days - Down from 38 in 2010
• Some Eagle Ford crude will have to be moved by water - Gulf Coast demand will not be enough

Bentek's annual Benposium conference is held in Houston each Spring.

The Eagle Ford Is Making Winners Out of Many - Video

The Eagle Ford is making winners out of several companies. Aimee Duffy, from Motley Fool, notes three companies with even more growth ahead. EOG plans to drill more this year than initially planned and both Enterprise Product Partners and Kinder Morgan will benefit from growing production.

Swift Energy's Eagle Ford Wells Improving - Looking For JV Partner

Swift Eagle Ford Acreage Map

Swift Energy expects to ink an Eagle Ford JV deal by the third quarter of 2013. The company doesn't believe a joint venture is required, but does believe the capital will provide a benchmark valuation of the company's assets. It will also speed up the development process and improve the present value of the underlying assets.

During the first quarter of 2013, Swift completed seven Eagle Ford wells and two Olmos wells.

Terry Swift, CEO, stated “Our refined drilling and completion techniques in the Eagle Ford shale and the strong performance of our base production in Lake Washington resulted in higher than forecast production volumes.  We’re encouraged by our progress so far this year.

A total of four Eagle Ford wells and two Olmos wells were completed in McMullen County. Three more Eagle Ford wells were completed in La Salle County. Four of those wells produced more than 1,000 boe/d:

• Baetz A EF 3Hin La Salle County - 1,293 boe/d - Eagle Ford
• PCQ EF 7H in McMullen County- 1,742 boe/d - Eagle Ford
• Siddons OL 4H in McMullen County- 1,108 boe/d - Olmos
• SMR OL 6H in McMullen County- 1,074 boe/d - Olmos