The discovery of the Hawkville Field in October 2008 kicked off a drilling and development boom the likes of which South Texas had not seen before. The discovery well—the STS-241 #1H, drilled by Petrohawk Energy Corp. in LaSalle County—would be the first of many horizontal wells in the Eagle Ford Shale play. In the 11 years since that initial discovery, the play is now considered one of the most mature unconventional plays, with more than 25,000 horizontal wells spudded, according to Drillinginfo.
In an exclusive report provided to E&P, Drillinginfo projects a 4% increase in production guidance from the Eagle Ford, forecasting third-quarter 2019 oil and gas production of 1.43 MMbbl/d and 194 MMcm/d (6.87 Bcf/d), respectively. For year-end 2020, oil and gas projected production is 1.49 MMbbl/d and 193 MMcm/d (6.82 Bcf/d), according to the report.
The purchases of stakes in four major European oil companies come during a global oil and gas industry downturn, as demand has slumped during the coronavirus outbreak.
As a ONE Future member, EagleClaw Midstream will report the company’s 2019 methane results as part of the gathering and boosting and processing sectors within the coalition.
ProPetro Holding Corp. said on April 9 it will reduce compensation at different levels by up to 20%, the latest oilfield services provider looking to rein in costs to weather a steep drop in oil prices.