Largest Eagle Ford Lease Holders Cash In
The shale plays have added an exiting element to the oil and gas world. This new method has lead to great production and encourage further exploration. The Eagle Ford formation has become a hot commodity and is one of the most impressive of the formations. There are a lucky few who have large acreages in this area, David White tells us which companies are these lucky few.
"Four of the biggest leaseholders in the Eagle Ford shale play are Chesapeake Energy Corp. (CHK) with 625,000 net acres, EOG Resources Inc. (EOG) with 520,000 net acres, Apache Corp. (APA) with 450,000 net acres, and EV Energy Partners LP (EVEP) with 450,000 net acres. If we take the ballpark figure of 10,000 recoverable boe per acre as the median of the above estimate, these four companies have leaseholds on an approximate average of 500,000 acres * 10,000 boe/acre = 5 billion boe apiece. This is highly likely to make these companies more profitable in the near future. Even if you use the low estimate of 5,000 boe per acre, they would still average about 2.5B boe each in their Eagle Ford shale lease holdings. The companies could find they get closer to 7.5B boe each out of the leases."
Find additional research and charts here: http://turnkeyoil.com/2011/06/27/largest-eagle-ford-lease-holders-cashing-in/