- Eagleford Energy is engaged in exploration and development of shale-based oil and natural gas resources in the rapidly emerging Eagle Ford Shale.
- An April 2010 Resource Study from global geological firm RPS Group reports profitable economics for both the Eagle Ford Shale and San Miguel Sands projects.
- The RPS Resource Study reports: “Based upon recent drilling and leasing activity and available information in the area, the Eagle Ford Shale resource potential underlying the Eagleford Energy leasehold could be as large as 8 million barrels of oil.”
- Petrohawk’s Mustang Ranch 1-H well (350 BOPD) on its 87,000 net acre Red Hawk Project is directly adjacent to Eagleford Energy’s Matthews Lease
- The Matthews Lease features historical San Miguel Sands heavy oil production of 99,000 barrels, halted in the 1980’s due to low oil prices.
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- Multiple oil and gas operators are acquiring acreage throughout the region, including: Petrohawk, Chesapeake, EOG Resources, St. Mary, , Anadarko and others.
- Land prices are rising rapidly. To the northeast and southeast of the Matthews Lease, PLS is offering 26,500 acres for sale at $1,500 per acre for a total of $39,750,000 – while other land blocks in the area are going for $2,500 per acre..
- The Matthews Lease has a determined reservoir of 150 million barrels in place based on 23 well logs and independent engineering analysis – making it a development play rather than an exploration play. RPS Group estimates 6.844 million barrels in just the D1 San Miguel Sands are recoverable by cyclic steam injection.
- In the highest producing oil sections of the Eagle Ford Shale, wells are producing at rates of up to 1,000 BOPD with estimated reserves of 500,000 barrels of oil equivalents (oil equivalents factor in the casing head gas along with the oil produced) per well. (Railroad Commission of Texas, Eagle Ford Shale Highlights, May 10, 2010)
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