Eagle Ford Shale

U.S. Energy Corp. (USEC) saw an uptick in production during the second quarter of 2014, as it acquired a stake in production in South Texas and sold some of its assets in the Williston Basin.

Reporting U.S. and overall production growth of 33% and 17%, respectively, EOG Resources senior executives talked bullishly on a 2Q2014 conference call Tuesday about new and existing shale plays with an emphasis on liquids-rich crude oil. They expressed no interest in new dry natural gas plays, citing current low domestic prices.

Devon Energy Corp., which has retooled its onshore natural gas-heavy operations to reap the higher margins in oil and liquids, lost some production momentum in the second quarter as it sold off assets, but with the divestitures now complete, the company is gearing up for sustained growth, particularly from the Permian Basin and Eagle Ford Shale.

Rosetta Resources Inc. turned in record production during the second quarter thanks in part to new well completion techniques. Eagle Ford production was up sharply, and the company is seeing its “best wells to date” in the Permian Basin.

Calumet Specialty Products LP said it has acquired substantially all of the assets of one of its competitors, privately-held Specialty Oilfield Solutions Ltd. (SOS), in a cash deal valued at $30 million.

During the second quarter, Pioneer Natural Resources Co. continued transitioning from appraisal to development on its northern Spraberry/Wolfcamp acreage in the Midland Basin, and in the Eagle Ford Shale it’s pushing forward on well downspacing.

The stacked pay potential of the Midland Basin’s Wolfcamp Shale has been attracting increasing producer interest and investment, and that’s predicted to grow substantially as the play is further developed, according to Wood Mackenzie.

Halcon Resources Corp. continued making gains on drilling and completion efficiencies in the second quarter, mainly in the Williston Basin, where the Bakken/Three Forks Shale accounted for more than half of its record-breaking 42,055 boe/d.

Denver-based SM Energy Co. executives on Wednesday released early positive results from new Eagle Ford Shale well completion techniques and detailed an acquisition of Bakken/Three Forks acreage that is adjacent to land where the company has experienced faster drill times and better completions.