Thank you for those links cmonaussie. I'll go through them later tonight hopefully. I am aware that Atascosa is a less prospective county than the higher producing counties in the Eastern Eagle Ford and this is the prevailing geological thought.
However, I would like to post 2 particular interesting comments from the EOG Resources earnings call in November that challenge this hypothesis and provide evidence of commercial success in the Western Eagle Ford..
Bill Thomas - Chairman of the Board, President, Chief Executive Officer "Thanks, Mark. I will start with our third quarter 2013 Eagle Ford results. During the third quarter, we continued to achieve 100% direct [after-tax] rate of return from both, the Western and Eastern portions of our 565,090,000 net acres in the Eagle Ford, continuous improvement in well productivity and operational efficiency are driving cost down and production up. As a result, we now expect to drill and complete 460 net wells in the Eagle Ford this year, which is an increase of 20 wells since last quarter. We have been able to increase the planned well count every quarter this year, because we are going well faster and more cost effectively."
Mark Papa - Executive Chairman of the Board
"Second one is the Eagle Ford. A year ago everybody said, yes, EOG is hitting grand slams daily in the Eastern Eagle Ford but in the Western Eagle Ford, everybody knows lower quality and EOG is not going to do as well in the Western Eagle Ford. That was just 12 months ago. Look at our results now. We are getting 100% rate of return in the Western Eagle Ford and we are getting 200% rate of return in the Eastern Eagle Ford. But the highlight of our last two earnings calls in the Eagle Ford has been the Western Eagle Ford."
NSE Price at posting:
12.5¢ Sentiment: Hold Disclosure: Held
