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Penn Virginia Hopeful New Eagle Ford Design Will Boost IPs
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In its latest investor presentation, Penn Virginia Corp. has unveiled its new Eagle Ford completion strategy. The company is looking to boost well results after Upper Eagle Ford IPs came in below expectations.
In 2Q, Penn Virginia drilled ten wells into the Upper Eagle Ford and had an average IP rate of 618 BOEPD over and an average of 23.8 frac stages.
Going forward, Penn Virginia has planned the following changes to its completion strategy:
2-String Focus Increase Proppant to 500,000 lbs. (up from 400,000 lbs.) Slickwater FracsThe company has also reported a decline in drilling and completion costs:
Drilling costs decreased by 30% since 3Q14 Completion costs decreased by 51% since 3Q14 2-String vs. 3-String Cost AnalysisEnlarge Image
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