STEER Announces Call for 2013 Eagle Ford Excellence Awards - Press Release

Eagle Ford Excellence Awards Logo

The South Texas Energy and Economic Roundtable (STEER), is proud to announce the inaugural 2013 Eagle Ford Excellence Awards. The awards will honor leading companies and contractors in the oil and gas community by recognizing their diligent efforts in three specific areas: community and social investment, environmental stewardship, and safety performance.

“Through these awards, STEER is recognizing companies that set the standard for the oil and gas industry. The 2013 Eagle Ford Excellence Awards will highlight companies that are implementing programs that focus on the safety, preservation and well-being of the communities in the Eagle Ford Shale region,” says Omar Garcia, president of STEER.

The 2013 Eagle Ford Excellence Awards will serve as an opportunity to recognize companies that are conducting activities based on values that are essential for the continued advancement of the oil and gas industry, and that benefit the greater South Texas region. The awards will be given to organizations that exemplify innovation, take initiative and serve the communities in which they work.

“We applaud the efforts of organizations who are dedicated to being a positive and innovative presence in their communities. Through the creation of these inaugural awards, we hope to bring attention to companies and contractors in the oil and gas industry that are concerned with improving the quality of life for those living in the shale region.”

— Omar Garcia

Companies or contractors working in or with the oil and gas sector in the Eagle Ford Shale are invited to submit an entry form.

For more information and to download the forms, visit www.STEER.com.  The deadline for entries is Friday, November 1, 2013.  The award recipients will be recognized at an awards luncheon in San Antonio, Texas on Wednesday, December 11, 2013.

About South Texas Energy and Economic Roundtable (STEER)

The South Texas Energy and Economic Roundtable (STEER) is the leading Eagle Ford Shale resource in the region and is the primary coordinator for communication and public advocacy surrounding the oil and natural gas industry in South Texas.  With a focus on South Texas, STEER will serve as the bridge connecting the industry and legislature, academia and the communities throughout South Texas to ensure positive collaboration and communication surrounding the activities associated with the Eagle Ford Shale. For more information about STEER, visit STEER.com.

MEDIA CONTACTS:

Lisa Martin [email protected] 210.227.1999, ext. 129

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Eagle Ford Regional Rig Count 267 - Shell Will Exit the Eagle Ford - Oct 4, 2013

Eagle Ford Shale Well Map

The Eagle Ford Shale rig countdecreased by two rigs from 269 to 267 running last week. Without a major change in commodity prices, watch for the rig count to remain flat to up a bit throughout the rest of the year. Also, watch for companies to begin releasing 2014 development plans. We're hearing several companies might add rigs early in the year.

The most interesting announcement of the week was from Shell. The company plans to sell over 100,000 acres and operated production of ~30,000 boe/d gross in the play. They company stated their position simply hasn't met their criteria for size and investment returns. My bet is a smaller company can make the position work better than a super-major with competing interests around the globe. Read the full article Shell's Eagle Ford Acreage Is For Sale.

The U.S. rig count increased 12 rigs from 1,744 to 1,756 running over the past week. A total of 378 rigs are targeting natural gas (2 more than last week) and 1,372 are targeting oil in the U.S. The remainder are drilling service wells (e.g. disposal wells, injection wells, etc.). 830 rigs are running in Texas.

Baker Hughes rig count is quoted here. Baker Hughes also releases its own Eagle Ford Rig Count that covers the 14 core counties (227 rigs). The rig count published on EagleFordShale.com includes a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table near the bottom of this article.

Eagle Ford Oil & Gas Rigs

[ic-l]The natural gas rig count increased by one from 38 to 39 rigs running over the past week. Natural gas prices were trading around $3.60/mmbtu on Oct 4th.

The oil rig count decreased by three rigs from 230 to 227 running. WTI oil prices were trading just below $103/bbl. Oil prices have been above $100 for 13 weeks now. Eagle Ford light crude traded at $100.25/bbl on Oct 4th.

A total of 232 rigs are drilling horizontal wells, 22 rigs are drilling directional wells, and 13 rigs are drilling true vertical wells. Karnes and McMullen counties lead development with 31 and 30 rigs running, respectively. See the full list of drilling by county below.

South Texas Oil & Gas News:

• Forest Oil Sells Panhandle Assets to Focus in the Eagle Ford
• Martin Midstream LPG Plant Planned in Corpus Christi
• Valero Investing to Handle More Eagle Ford Oil
• EOG Accelerates Eaglebine JV With ZaZa
• Shell's Eagle Ford Acreage Is For Sale

Be sure to visit our South Texas Oilfield Job Listings to search openings and come back weekly for updates or sign up for alerts - Daily or Weekly Email Alerts

Eagle Ford Shale Drilling by County

Eagle Ford Operated Rig Count By Company

SmithBits no longer reports its operated rig count, but we'll have updated number for you from a new source soon. Until then, you can reference our numbers from mid-April. There has not been a significant change in the overall rig count since this date:

What is the Rig Count?

The Eagle Ford Shale Rig Count is an index of the total number of oil & gas drilling rigs running across a 30 county area in South Texas. The South Texas rigs referred to in this article are for ALL drilling reported by Baker Hughes and not solely wells targeting the Eagle Ford formation. All land rigs and onshore rig data shown here are based upon industry estimates provided by the Baker Hughes Rig Count and/or Smith Service Co's (Schlumberger) Smith Rig Count.

Forest Oil Sells Panhandle Assets to Focus Efforts in the Eagle Ford

Forest - Schlumberger Eagle Ford Acreage

Forest Oil is selling assets in the Texas Panhandle for $1 billion to Templar Energy and will focus the company's efforts in the Eagle Ford. The Panhandle assets produced an average of 100 mmcfe/d during the first nine months of 2013.

In the past year, Forest has sold assets in South Texas, the Permian Basin, and the Panhandle to improve the company's balance sheet.

Even the Eagle Ford wasn't immune from the company's plans, Forest sold a 50% interest in the company's acreage to Schlumberger earlier in the year.

“This transaction comprises a major component of the strategic deleveraging program we instituted in mid-2012 and will allow us to significantly reduce long-term debt and greatly enhance our financial flexibility and liquidity. This divestiture sharpens our operational focus and enables us to maintain development efforts in our core Eagle Ford Shale asset, where oil production is projected to show notable growth over the next several years.”

— Patrick R. McDonald, CEO

Martin Midstream LPG Plant Planned at the Port of Corpus Christi

Martin Midstream has purchased the last available Port of Corpus Christi property on Harbor Island. The company will construct a $550 million LPG plant on the 245 acre property. The facility could be completed in the next three years and will employ hundreds during construction and 50 full-time positions once completed. Add those to the already booming Eagle Ford jobs market.

Valero Investing to Handle More Eagle Ford Oil & Other Light Crude

Valero Corpus Christi and Houston Refinery Throughput

Valero Energy plans to increase its light oil processing capacity at its Gulf Coast refineries by adding topping units at Houston and Corpus Christi locations.

The investments will allow the company to process more Eagle Ford oil than possible today.

Valero will add a 90,000 b/d topping unit at its Houston refinery and a 70,000 b/d topping unit at one of the company's Corpus Christi refineries. The company expects returns of greater than 30% (IRRs) for the two investments.

Valero has two plants with total refining capacity of 325,000 b/d in Corpus Christi and the company's Houston refinery has total capacity of 160,000 b/d.

Running lighter crude will help maximize the production of gasoline and diesel.

Valero is also expanding its McKee crude unit in North Texas by 25,000 b/d in 2015 and is evaluating projects at both its Port Arthur and Meraux refineries.

With continued growth in West Texas plays, the Bakken in North Dakota, and the Eagle Ford, refineries will continue making investments to ensure they are processing the maximum volume of lower priced domestic crude.

See the full presentation at valero.com