Replies to This Discussion

Permalink Reply by acslater on September 3, 2013 at 6:05

Thanks Mark

Permalink Reply by jffree1 on September 3, 2013 at 17:51

July has been reported:

07/2013		380	403	559	01	209	911,750	844,210	01
				15	08			67,540	02

Permalink Reply by Rock Man on September 3, 2013 at 18:11

Looks like similar performance to all previous months. Sales gas of about 2.25 MMCF along with 13-14 BC per day. Must be making massive water volumes to need this much gas to unload well.

Permalink Reply by Buck Wells on September 30, 2013 at 21:44

Looks like EOG might like what it found @ True Grit well sites.  Exercises Phase II of joint development of ZaZa acreage and agreement after 2nd well, 1 vertical and 1 horizontal.  No results on RRC site.  Anyone with any updated information?

Seeking Alpha: ZaZa Energy gets deal for further development of Eaglebine/Eagle Ford, 9/30/2013 

As consideration for the Phase II election, ZaZa will receive $17M plus interests in 15 of its partner's wells with a PDP present value of $3M based on an independent reserves report.

Seeking Alpha:  Eaglebine Oil Play: EOG Resources Forms A Joint Venture With ZaZa Energy, Mar 26 2013

This joint development will be divided into the following three phases.

PHASE I

In the first phase, ZaZa will transfer 20,000 net acres - approximately 15,000 of which will come from its joint venture with Range - to EOG in exchange for a $10 million cash payment and an obligation of EOG to drill three wells and pay 100% of those wells' drilling and completion costs. Drilling operations on the third well in the first phase must be commenced by EOG before December 31, 2013.

PHASE II

Within 60 days of completion of the third well under the first phase, EOG will have the option to elect to go forward with the second phase of the joint development or to terminate the joint venture. If EOG elects to go forward, ZaZa will transfer an additional 20,000 net acres to EOG in exchange for a $20 million cash payment, an obligation of EOG to drill an additional three wells and pay 100% of the drilling and completion costs of those three wells, and an obligation of EOG to pay for up to $1.25 million of ZaZa's share of additional costs for seismic or well costs.

PHASE III

Within 60 days of completion of the second phase, EOG will have the option to elect to go forward with the third phase of the joint development. If EOG decides to proceed, ZaZa will transfer an additional 15,000 net acres to EOG in exchange for a cash payment of $20 million cash payment, an obligation of EOG to drill an additional three wells and pay 100% of the drilling and completion costs of those wells, and an obligation of EOG to pay for up to $1.25 million of ZaZa's share of additional costs for seismic or well costs.

Conclusion

The announcement of the joint venture between ZaZa and EOG is a positive development for the play, although perhaps of a smaller magnitude than the headlines appear to suggest.

EOG is no novice as it comes to complex horizontal oil plays, and its interest in the Eaglebine certainly sends a positive signal. EOG's Eagle Ford expertise is particularly important in the Eaglebine context.

At least three test wells will be drilled by EOG before 2013 year end on ZaZa's acreage. In the event of a positive result, drilling activity can be accelerated.

Permalink Reply by Buck Wells on October 1, 2013 at 1:11

New commercial SWD permitted in Walker County, Texas, northeast corner of FM 247 and FM 2989, by Longbranch Energy.

Permalink Reply by Buck Wells on January 14, 2014 at 7:35

EOG moved back in on True Grit, has gate guard at gate.

Also purchased Range Production 25% interest, Dec., 2013.  This was the 25% interest retained in the Range/ZAZA transaction.

Anyone with any EOG info going forward in Walker County? 

Permalink Reply by Caddo Rat on January 14, 2014 at 7:39

We leased to EOG last Fall. We are in the A.D. Everett AB 184. We have had several letters offering to buy our interests after we leased.

Permalink Reply by Kittrellfiddler on January 16, 2014 at 1:58

Howdy Buck and Caddo....

Great to hear that EOG is working their interests in the Walker County area!  Just curious...Have y'all heard of any leasing or lease research for the Walker County area across the river to the East?  I believe it is EOG that has a well just off FM 3478 and about a mile from the river....

 

Permalink Reply by Caddo Rat on January 16, 2014 at 4:14

I haven't heard anything. What are some of the results on the initial wells that have been drilled?

Permalink Reply by Buck Wells on January 16, 2014 at 4:53

No results posted on RRC site from True Grit as of 1/14/2014.

Only one crew working in Walker County Courthouse, either EOG or S & M, do not know the area they are working.

Permalink Reply by Kittrellfiddler on January 16, 2014 at 5:07

Not really sure, Caddo....

I believe that the project at FM 3478 and the river is now designated as a gas well.  It was purposed as a disposal well to begin with...then, they hit something a little bit better.  Back up East on FM 230 towards Trinity, there are two wells.  I'm not sure what turned up on those, but it was rumored that oil production could be in the future for those two projects.    

 

Permalink Reply by Kittrellfiddler on January 16, 2014 at 5:16

That's the story I got, Buck....this time last year a landman had to have a number to get in line at the Courthouse just to do the research.  I'm hoping as the leases expire on the West side of Walker County, that the interest will pick up on the East side.  Funny how Houston County is leased up right up to the county line and it stops...then, picks up again across the river into the West side of Walker County...and the Kittrell area is just watching to see what happens.     

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