rip the groundhog, page-18

blacksteel

conocophillips announced their first result in the eagleford

their ceo was jubilant and made a big point of it..

pretty amazing for a corporation that size to make a huge deal of it, but they did and in the Q&A the eagleford play dominated..

conoco own acreages all around the adi acreages east and west

http://www.conocophillips.com/EN/investor/presentations_ccalls/Documents/COP-Transcript-2009-10-28T15_00.pdf


Sig Cornelius - ConocoPhillips - Senior VP, Finance & CFO
Sure. I would be happy to. I referred to some successful results that we've had recently on our well, our last well, the Bordovsky A-7 well. We had it on online for a relatively short period of time, but we are very encouraged. We've got a flow rate of nearly 4 million cubic feet a day but, more importantly, around 1500 barrels a day of condensate. So that has been part of our strategy
to focus on plays that have a very high -- these shale plays that have a very high liquid content, obviously very important on the economics.

We have a very substantial position there, close to 300,000 acres when you consider our interest in the Eagle Ford and the adjoining Austin Chalk play. You are correct. We have been entertaining some offers for potential farmout of our position, but we are not going to farm it out unless we see a compelling value proposition. So far we have not seen that.


Jason Gammel - - Analyst

Great. Any comments on how many rigs you might be running there?

Sig Cornelius - ConocoPhillips - Senior VP, Finance & CFO
Right now we are just running one rig. As we get into next year, because we're still in the learning mode, we have not drilled that many wells in the play. But every well that we drill like other shales we are learning as we go, and we will ramp up in due course.