Texas oil boom continues as Australian oil and gas exploration successfully drills in Eagle Ford area

According to a company press release, New Standard Energy Limited announced that it reached target depth at its second well in the Eagle Ford shale the Peeler Ranch-6H well.

The company stated that the they completed the wells within expected time and budget forecasts.  According to the company, the two wells were drilled in parallel lateral lengths, targeting the same Eagle Ford hydrocarbon bearing zone to maximize production and minimize associated drilling, hydraulic fracturing and production tie-in costs.

The company will shift operational focus to fracture stimulation in April.
The company anticipates stimulating both wells together using the
“zipper frac” method.  The zipper frac method alternates fracture stages between the two wells, and causes an incremental increase in fracture interaction, leading to better recovery.

More on zipper frac method:

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Dwight Steward, Ph.D.

Dr. Steward regularly writes and speaks on topics involving business and individual economic damages, employment audits, and the analysis of payroll and time data in wage and hour investigations. Dr. Steward has also held teaching positions at The University of Texas-Austin in the Department of Economics and in the Red McCombs School of Business, The College of Business at Sam Houston State University, and at The University of Iowa. He has taught numerous courses in statistics, corporate finance, labor economics, business policies, managerial economics, and microeconomics.