re: Ann: Sugarloaf Production and Operations ...
re the production tubing. worth taking a look at the murphy experience a few months back
murphy has just fracced their first karnes county eagleford well a week or so ago, the well was flaring hard..
Murphy Oil - Eagle Ford Shale Update - Part I
Murphy Oil (MUR) held its fourth quarter of 2009 earnings conference call on January 28, 2010, and discussed its operations in the Eagle Ford Shale in Texas. The company has completed one horizontal well into the Eagle Ford Shale, and is working on two other wells, one in Karnes County and one in LaSalle County.
Eagle Ford Shale Acreage
In 2009, were very active in acquiring leases especially in the Eagle Ford Shale, but for 2010 will be much more tilted toward exploration drilling activity. Our budget assumed WTI pricing of $65 per barrel and Henry Hub pricing of $5 per Mcf.
First Eagle Ford Shale Well
We are off to a great start with our Eagle Ford Shale program in south Texas. We recently announced the discovery at our first well, the George Miles number one drilled in McMullen County. Initial rate of flow from the well was approximately 7.5 million cubic feet a day. This was increased to 11.7 million cubic feet a day once tubing was run. That well is hooked up and making sales at approximately 4 million cubic feet a day and still has a lot of water to come out of the well before we get the improved rate.
ADI Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
