its just a very large four stage multi frac to come. new crew needed
there was a well drilled by pioneer in dewitt county into the eagelford, it had 8 stages planned and of the 8 many did not eventuate and only 5 did get completed, due to mechanical failure as they put it.. with only 500 feet of well estimated to be in the shale in any case..
the kowalik well will have a 4 stage multifrac on 850 feet of well that has a cemented liner in it, there is an opportunity for improvement imho, as much as the market does not see it,,
Pioneer Natural Resources - PXD - In South Texas, Pioneer completed its first horizontal well in the Eagle Ford shale play. The Friedrichs Gas Unit #1, drilled in Dewitt County, had an initial flow rate of 3.7 million cubic feet equivalent per day, including 2.7 million cubic feet per day of natural gas and 160 barrels per day of condensate after partially completing only five stages of a planned eight-stage completion.
Mechanical problems in the original lateral required a sidetrack with a modified well path. The modified well path significantly reduced the wells exposure to the main reservoir section in the brittle shale found at the base of the Eagle Ford formation. Pioneer estimates that only two stages of the fracture stimulation, representing less than 500 feet of the 3,000-foot lateral, penetrated the brittle shale and are contributing to gas production.
Scott Sheffield, Pioneers Chairman and CEO, stated, It is unfortunate that this first well had mechanical issues which did not allow us to properly test the full potential of the Eagle Ford shale in this area. We have drilled more than 150 wells through the Eagle Ford shale as we developed the deeper Edwards formation and recognize the potential that underlies our 310,000 gross acres in the play. Pursuant to our original plans to test our extensive acreage position, we will drill a second Eagle Ford well more than 40 miles southwest of the first location in the third quarter of this year. We then plan to drill additional wells to high grade our acreage, including another well in the Friedrichs area.
ADI Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held