While steady completion results continue in the Eagle Ford, several recent land transactions are likely to influence future development.

In June, Freeport-McMoRan sold its Eagle Ford Shale assets to a subsidiary of Encana for $3.1 billion in cash, less closing adjustments, for 45,500 net acres in Texas’ Karnes, Wilson and Atascosa counties.

Sanchez Energy closed a $553.5 million acquisition of Eagle Ford assets from wholly owned subsidiaries of Royal Dutch Shell. In May, Sanchez said it would acquire a 100% working interest and 75% net revenue interest in the Catarina assets. The South Texas properties comprise approximately 106,000 net acres in Dimmit, LaSalle and Webb counties.

In July, Penn Virginia Corp. acquired approximately 13,125 (11,660 net) Eagle Ford acres in Lavaca County for $45 million. The transaction will bring the company’s total Eagle Ford position to 142,500 (101,800 net) acres. The newly acquired assets are located next to the company’s Shiner area. Penn Virginia plans to further expand its Eagle Ford position to a minimum of 100,000 net acres.

Cardinal Energy Group is buying 2,800 net Eagle Ford acres from Nordic Oil USA 1 LLLP for an undisclosed amount of money. The acreage is located in Gonzales and Wilson counties in the oil and liquids-rich window of the play. The acquisition will include operating interests in 10 producing wells and one salt water disposal well.

1 Oak Valley Operating LLC: 06/24/14
Houston-based Oak Valley Operating LLC completed three Eagle Ford Shale producers in Fayette County (RRC Dist. 3), Texas. The tests are on a 718.8-acre lease in William Farris Survey, A-180. The #1H Kolar-Labatt Unit was drilled to 10,431 ft and produced 898 bbl of oil (43-degree gravity), 222 Mcf of gas and 1,010 bbl of water per day. The #2H Kolar-Labatt Unit was drilled to 15,210 ft and produced 815 bbl of oil (43-degree-gravity), 203 Mcf of gas and 876 bbl of water per day. The #3H Kolar-Labatt Unit was drilled to 15,393 ft and produced 722 bbl of oil (39-degree gravity), 200 Mcf of gas and 660 bbl of water per day. The #1H and #2H had a planned true vertical depth of 10,600 ft, while #3H has a planned true vertical depth of 10,700 ft.

2 Abraxas Petroleum Corp.: 06/20/14
A horizontal Eagle Ford well was completed by Abraxas Petroleum Corp. on its Jourdanton prospect in central Atascosa County (RRC Dist. 1), Texas. The #1H Snake Eyes Unit had an initial daily production rate of 628 bbl of 28.8-degree-gravity oil, 350 Mcf of gas and 466 bbl of condensate. It was tested on a 28/64-in. choke with a flowing casing pressure of 355 psi. The discovery was drilled to 12,688 ft and is in Section 1764, I&GN RR Co Survey, A-492. It bottomed about a mile north at a true vertical depth of 7,780 ft. The San Antonio-based company reported that the producer averaged 531 boe/d (493 bbl of oil and 232 Mcf of gas) over its first 23 days online. The well was then placed on submersible pump, where it produced 729 boe/d (703 bbl of oil and 158 Mcf of gas) during its first full day online.

3 SM Energy: 06/04/14
SM Energy has completed a horizontal Eagle Ford well in San Jacinto County (RRC Dist. 3), Texas. The #1H Matt Dillon State Gas Unit 1 produced 4.95 MMcf of gas, 176 bbl of 47.8-degree-gravity crude and 1.5 Mbbl of water per day. Production is from perforations at 13,550-18,146 ft. Gauged on a 26/64-in. choke, the flowing casing pressure was 2,466 psi and shut-in casing pressure was 3,294 psi. It is in Enoch A. Jones Survey, A-183. After drilling a 13,685-ft vertical pilot hole, the well was drilled 18,208 ft, 12,769 ft true vertical. SM Energy’s headquarters are in Denver.

4 Halcon Resources Inc.: 05/29/14
Halcon Resources Inc. completed a horizontal Eagle Ford Shale well in Aguila Vado Field. The #1H Stifflemire initially produced 1,066 boe/d with an 87% oil cut and is still flowing back. The Burleson County (RRC Dist. 3), Texas, well was drilled to approximately 17,000 ft with an 8,000 ft horizontal leg in Eagle Ford and is in James Perry Survey, A-44. Additional information is not currently available from the Houston-based operator.

5 Freeport-McMoRan Oil & Gas LLC: 05/22/14
Houston-based Freeport-McMoRan Oil & Gas LLC completed a horizontal Eagleville Field well in Karnes County (RRC Dist. 2), Texas. The #1H Betty flowed 251 bbl of 37-degree-gravity oil, 149 Mcf of gas and 125 bbl of water per day from a fracture-stimulated Eagle Ford Shale interval at 8,956-14,358 ft. Tested on a 14/64-in. choke, the flowing casing pressure was 410 psi. The 14,460 ft venture is in Robert Bowen Survey, A-53 and the lateral bottomed to the east-southeast in Ezra Cobb Survey, A-78. The true vertical depth is 8,988 ft.

6 EOG Resources Inc. 05/21/14
An Eagleville Field-Eagle Ford discovery by EOG Resources Inc. produced 1.513 Mbbl of 36-degree-gravity crude, 414 Mcf of gas and 1,423 bbl of water per day. The Houston-based company’s #1H Springbok Unit is in Atascosa County (RRC Dist. 1), Texas. The 13,032-ft well produces from fracture-treated perforations at 9,253-12,928 ft. Gauged on a 32/64-in. choke, the flowing tubing pressure was 812 psi. The true vertical depth is 9,105 ft. and it is in Section 1707, I&GN RR Co Survey, A-440. The venture bottomed to the east in Section 1708, I&GN RR Co Survey, A-439.

7 SM Energy: 4-29-2014
According to the Southeastern Oil Scout, Denver-based SM Energy Inc. completed a horizontal Eagle Ford wildcat in Washington County (RRC Dist. 3), Texas. The #1H Brollier had an initial seven-day rate of 7.5 MMcf/d (1,196 Btu gas) and 88 bbl/d (7.93 MMcf equivalent/d, 6% oil). Tested on an unreported choke size, the flowing casing pressure was 6,110 psi. The producer had a projected depth of 19,000 ft and is on the company’s 24,000 net acre Independence prospect in Clokey Robert Survey, A-30.