Eagle Ford Shale

During the first quarter Penn Virginia Corp. (PVA) set a quarterly oil production record, thanks to a 15% increase in output from its Eagle Ford Shale operations as it continues to grow and delineate its South Texas acreage.

Encana Corp. made the move from natural gas-heavy to liquids-rich generator in the first quarter as new well designs and a sharper focus highlighted the strength of its onshore portfolio.

Halcon Resources Corp. reported forward progress in the Tuscaloosa Marine Shale (TMS) during the first quarter, while making drilling improvements in the Williston Basin and derisking its holdings in a portion of the Eagle Ford Shale in East Texas.

Midstream operators MarkWest Energy Partners and DCP Midstream Partners each had strong first quarters, opening a plethora of infrastructure and processing facilities in U.S. shale plays, and recording significant earnings increases, the companies said in separate announcements this week.

Encana Corp. on Wednesday doubled its current oil production in one swift move by agreeing to pay $3.1 billion for a slice of the Eagle Ford Shale in South Texas.

The makeover at Devon Energy Corp. to become an oil heavy proved its worth in the first quarter, fueled by a new midstream arm and production gains driven almost exclusively by the Permian Basin and Eagle Ford Shale.

Chesapeake Energy Corp. is more than making do with its smaller portfolio and reduced spending plans, with its first quarter natural gas and oil production increasing by 11% and revenues surging 47%.

East Texas and Eagle Ford Shale players Sabine Oil & Gas LLC and Forest Oil Corp. announced an all-stock merger that will create a Houston-based publicly traded company with acreage also in the Granite Wash, Permian and Arkoma basins.

The Wattenberg field, in combination with the Eagle Ford Shale and Permian Basin, drove Anadarko Petroleum Corp. in the first quarter to record volumes of 819,000 boe/d, with domestic oil volumes 10,000 b/d above the midpoint of guidance. U.S. onshore output was 12% higher than year-ago levels.