The Woodbine

New successes in the emerging Woodbine oil play have operators refocusing on East Texas, especially in Madison and Leon counties. Some players are calling it Eaglebine, reflecting the presence of the Eagle Ford shale above it. In a six-county area, a dozen companies are now drilling. They are beginning to consolidate many of the smaller, private independents. Well costs are about $6 million and EURs are averaging 400,000 BOE. Some say up to 1.7 billion barrels of oil are in place.

View Full Article