ConocoPhillips ramps up Eagle Ford position

By OGJ editors
-- ConocoPhillips plans to sharply hike capital spending in the Southeast Texas Eagle Ford shale play in 2011.

The investment level, although not yet approved, likely will be $1-1.5 billion in 2011 compared with $300 million in 2010, management said last week. The 2011 amount is for drilling and completions, not to add acreage.

The company holds more than 240,000 net acres southeast of San Antonio in Live Oak, Bee, Karnes, DeWitt, and Gonzales counties and expects to be running 10 rigs by the end of 2010.

Results from wells drilled so far are very encouraging, with 30-day averages of around 1,500 b/d of oil equivalent at a cost of $8-9 million/well.

The company expects its activity to pick up in the fourth quarter from the nine rigs now running. It drilled 15 wells and completed eight in the quarter ended Sept. 30.

ConocoPhillips intends for the Eagle Ford play to contribute 65,000 boe/d of net production in the long term. Meanwhile, the company plans to boost its North Dakota Bakken rig count to more than eight rigs in 2011, and it also has a position in the North Barnett shale play in Texas.

Related Articles

Western gulf lease sale attracts $110 million in high bids

08/20/2014 Gulf of Mexico western planning area Lease Sale 238 drew 93 bids from 14 companies over 81 blocks covering 433,823 acres, totaling $109,951,644 in ...

ConocoPhillips, Enap sign deal to study unconventional oil, gas in Chile

08/06/2014 ConocoPhillips and Chile’s state oil company Empresa Nacional del Petroleo (Enap) have signed a technical agreement to jointly conduct geological, ...

Oando completes purchase of Nigeria assets from ConocoPhillips

07/30/2014 Oando Energy Resources (OER), a Calgary-based subsidiary of Oando PLC, has completed its acquisition of the Nigeria upstream business of ConocoPhil...

ConocoPhillips, Suncor join Shell in deepwater exploration off Nova Scotia


ConocoPhillips and Suncor Energy Inc. are joining Shell Canada as partners in exploring the deepwater Shelburne basin off Nova Scotia.

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected