Lonestar’s Eagle Ford Discovery
Previously, Lonestar Resources announced that its B #1 H wildcat well had drilled to a total distance of 19,800 feet (approximately 11,000 feet vertical depth) with an initial production test rate of 1,475 barrels of oil equivalent per day (boepd). Last week Lonestar, the operator with a 50% interest, announced that the well had been stimulated with 16.6 million tons of proppant. A perforated interval of 8,166 feet of pay was treated in 41 stages. As a result of the frack, the well has sustained a 30 day production rate of 2,123 boepd (890 barrels of oil, 764 barrels of natural gas liquids, and 2.2 million cubic feet of natural gas per day).
Lonestar owns 6,420 net acres in the Eastern Eagle Ford area with 46 potential drilling locations. At the end of 2016, the company had no proven reserves in this area. However, the Eagle Ford shale of South Texas is the major focus area of the company. Lonestar also has an acreage position in North Dakota’s Bakken shale which it considers to have exploration potential.
CEO, Frank D. Bracken, III, observed, “The early results of our first well in the Brazos Deep portion of the Eagle Ford shale play are extremely encouraging. The rates achieved thus far are considerably higher than the average for the area. I believe this is a testament to the quality of our technical team. We are currently interpreting our 3-D seismic over our leasehold. Thereafter, we will formulate our development plan for this area, which holds significant production and reserve potential for our company.”
To read the company’s press release in its entirety, please go to https://static1.squarespace.com/static/53552f31e4b09050c80f5f0c/t/594ad62559cc6889f9c3a8bf/1498076709671/Lonestar+Announces+30+Day+Rate+of+2%2C123+BOEPD+For+Brazos+County+Well.pdf .
The company’s website has an excellent summary of the Eagle Ford shale (http://www.lonestarresources.com/eagle-ford-shale/ ) and explains Lonestar’s strategy in exploiting its acreage position in the play.
Russell T. Rudy Energy, LLC buys oil, gas and mineral interests nationwide. Please call (800-880-0940), or write (email@example.com ) to let us know if you agree, disagree or would just like to comment on this, or any of our posts.