Wednesday, September 2, 2009

Encore Acquisition: Introduction

Encore Acquisition Company (ticker: EAC) is a Fort Worth, TX-based company that develops oil and gas fields all over North America.  In the Haynesville Shale, the company has 19,000 gross acres (12,544 net) in Louisiana in the Caspiana, Elm Grove and Greenwood Waskom Fields.

The company drills its own wells and also partners with others to do the drilling.  Of the three fields noted above, Encore only operates wells in the Greenwood Waskom field, where its first wells, the Rosalie Dunn ETAL 11 and Querbes 29 #4 are nearing completion.  Two others, the Rosalie Dunn ETAL 2 #1 and Edgar 31 #1, have been permitted.  The wells are all located in Township 16N/Range 16W. (The second map below shows a well in Greenwood-Waskom with a 6.8 MMcf/day IP rate, but in searching the state database I didn't notice such a well.)

The slides below summarizes Encore's activities in the Haynesville Shale.



 

The company has one rig operating in the Haynesville Play and expects its activities in the area to pick up in 2010.

[UPDATE 11/1/09:  Denbury Resources agreed to acquire Encore Acquisition for $4.5 billion with the deal slated to close before the end of the year.  More on other Denbury transactions, including its CO2 business.]

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