For all you Penn Virginia lease holders they have posted new finanical information out in the investors section. It is the 4Q and full year operational updates. Good reading if you have the time and want to see what the company is thinking for the upcoming year. The below section of the operational update good be very interesting for the future. Take not. It could double the drilling on our land.
Eagle Ford Shale Operational Update
Net production from the Eagle Ford Shale was 13,111 BOEPD in the fourth quarter, an increase of five percent from 12,489 BOEPD in the third quarter. Crude oil production alone in the Eagle Ford Shale during the fourth quarter was 10,574 BOPD, or 81 percent of total Eagle Ford Shale production. During the fourth quarter, we completed 19 (9.6 net) operated wells and participated in the completion of three (1.4 net) outside operated wells. In the Eagle Ford Shale, we have a total of 179 (116.7 net) producing wells, 13 (10.1 net) operated wells completing or waiting on completion, two (0.9 net) outside operated wells being completed, six (4.2 net) operated wells being drilled and no outside operated wells being drilled.
Currently, we are drilling with six operated rigs and no outside-operated rigs. During the second half of 2013, both of the outside-operated rigs were released. Our capital program for 2014 is based on drilling with six operated rigs all year, along with a small number of non-operated wells that we expect will be proposed by partners.
In the third quarter of 2013, we discussed our plans to drill a two-well pad, one well of which was to be drilled in the lower Eagle Ford Shale and the second of which was to be drilled in the upper Eagle Ford Shale. The purpose of this two-well pad was to test the potential of the upper Eagle Ford Shale and to determine if it was a separate reservoir from the lower Eagle Ford Shale, which has been the reservoir we have drilled to and completed in to date. If the test is successful, a significant number of drilling locations would be added to our drilling inventory. As of this date, the lower Eagle Ford Shale well has been drilled and the upper Eagle Ford Shale well is currently being drilled in its lateral. Completion of both wells is expected late in the first quarter or early in the second quarter of 2014.
Below are the results and statistics for recent Eagle Ford Shale wells:
Have a blessed day people