EOG Maximizing Recovery of Eagle Ford - An example of the improving recovery and its $ impact - Seeking Alpha article (8/13/13)

Whoever first said "patience is a virtue"...probably never dreamed it would have natural resources implications....

 

Initially EOG believed that from 640 acres of its Eagle Ford property the company could recover 4.5 million barrels using 65 acre spacing.

Through trial and error, EOG has discovered that 40 acre spacing is actually going to work better which means the company will increase the amount of oil recovered by 42% and the net present value of that acreage from $76 million to $103 million.

http://seekingalpha.com/article/1631292-charlie-munger-thinks-oil-i...

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Comment by Mark on August 18, 2013 at 10:47pm

Good slide to post for the EOG spacing plan. Back in 2010, EOG was talking about 2-3% recovery factors for the oil in place. This number has grown and is now in the 7-8% range.

This may not seem like a lot but when you are looking at millions of BO in place per any spacing / drainage unit, it addes up.

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