from a **promotion blocked** excert on Conoco (april 2014);
"While there are plenty of world-class operators in the Eagle Ford, Conoco's drilling program stands out for a few main reasons. First, the company's 221,000 net acres are located in the play's sweet spot, where an ideal combination of pressure, maturity, and thickness yields extremely high oil production rates.
As a result of this location advantage, as well as continued cost improvements, the economics of Conoco's Eagle Ford drilling program are truly impressive. Not only do the company's wells have the highest oil rates per well in the entire play, but the net present value of its Eagle Ford acreage is about 35% higher than that of its closest competitor, according to consultancy Wood Mackenzie."
"Having identified more than 3,000 drilling locations across the Eagle Ford, Conoco plans to spend $3 billion in the play from 2014 to 2017. This increased spending is expected to boost its production from the play to more than 250,000 barrels of oil equivalent per day by 2017, which would represent 20% compound annual growth from 2012 levels."
88E Price at posting:
1.1¢ Sentiment: Hold Disclosure: Held
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