Eagle Ford

Affiliates of Venado Oil and Gas LLC and Kohlberg Kravis Roberts & Co. LP (KKR) have again scooped up assets in the Eagle Ford Shale of South Texas from an undisclosed seller.

San Antonio, TX-based Epic Midstream Holdings LP said on Wednesday that its 700-mile pipeline has started its third and final construction phase for taking natural gas liquids (NGL) from the Permian Basin to the Texas Gulf Coast. It is slated to be in service late next year.

Eagle Ford Shale operator Laredo Energy VI LP said early drilling results in the dry natural gas window hold promise for multi-well development for years to come.

Black Mountain Sand is expanding its operations into the Eagle Ford Shale with the acquisition of 2,400 acres in South Texas.

Marathon Oil Corp., which is working the Permian Basin, Eagle Ford and Bakken shales, in Oklahoma and the emerging Louisiana Austin Chalk, has raised 2018 production guidance by 5% to to 25-30% while maintaining the $2.3 billion capital budget.

Japan’s Marubeni Corp. said it has sold some of its stakes in Eagle Ford Shale assets to two undisclosed oil and gas developers. Financial details also were not provided. The sale is part of a plan to strengthen the bottom line, it said. Marubeni in 2012 acquired a 35% interest in Hunt Oil Co.’s South Texas portfolio, which gave it 52,000 net acres. The producers agreed at the time to acquire more acreage in the Eagle Ford. Marubeni also has acreage in the Denver-Julesburg Basin, and it works in the U.S. Gulf of Mexico.

EOG Resources Inc. had “a watershed year” in 2017 in the Permian Basin’s Delaware play, where it identified 1,240 additional net premium well locations, added the First Bone Spring as its fourth premium play, and slashed completed well costs by $800,000 per well, the Houston-based independent said Wednesday.

Natural gas production from the Permian Basin climbed in September by 0.2 Bcf/d to 8.8 Bcf/d, eclipsing gas output from the Haynesville and Eagle Ford shales, the Federal Reserve Board of Dallas said Thursday.

Penn Virginia Corp. reported Tuesday that it has completed its acquisition of Eagle Ford Shale assets located primarily in Lavaca County, TX from Devon Energy Corp. for $205 million in cash.