Tuesday, March 1, 2011

Back to back Eagle Ford JVs in 2010; In 2011, Anadarko to hunt for partners



Anadarko is also jumping on the Eagle Ford bandwagon by having exclusive talks with a partner for JV. Anadarko plans to double its drilling activity in the Eagle Ford to more than 200 wells this year, as it looks to boost output of petroleum liquids, The company estimated ultimate recoveries from existing Eagle Ford wells to be 450,000 barrels of oil per well on average. Anadarko’s  JV plans in Eagleford is a significant development, as it has the past record of pulling off one of the priciest joint ventures with Mitsui ($14,000 per Marcellus acre) in 2010.



In the past also companies reaped the benefits by striking JVs in Eagle Ford. 

Heading
Deal Value ($MM)
Hydrocarbon
$/Acre
Announce Date
CNOOC and Chesapeake form JV
2,160
Oil
10,800
10-10-2010
Talisman and Statoil form $1.3B JV
1,325
Oil + Gas
10,900
10-10-2010
Reliance and Pioneer form JV
1,315
Oil + Gas
11,111
06-24-2010
KKR and Hilcorp Energy  form JV
400
Oil
10,000
06-14-2010
Talisman contributes acreage to JV
180
Oil + Gas
9,730
10-10-2010
BP and Lewis Energy form JV
160
Gas
4,000
03-02-2010
Swift Energy and Petrohawk  form JV
39
Gas
3,000
11-02-2009
Blue Stone and Abraxas form JV
18.75
Oil + Gas
3,000
08-18-2010


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