Ziff Energy Launches Inaugural Eagle Ford Shale Production Operations Benchmarking Study
Houston, TX (PRWEB) February 05, 2014 -- Ziff Energy, a division of HSB Solomon Associates LLC (Solomon), today announced the launch of its Eagle Ford Shale Production Operations Benchmarking Study. Ziff Energy consultants will analyze operating costs and uptime reliability for production operations in the South Texas shale basin.
“While Ziff Energy has been benchmarking production operations in the U.S. since 1996, this will be Ziff’s first production operations benchmarking study for a shale basin,” said Richard M. Tucker, vice president of marketing and client relations at Ziff Energy. “The level of interest to assess performance in the basin is very high, supported by the fact that many of the top basin operators are participating.”
“This study is a critical tool for Eagle Ford operators to manage continuous improvement initiatives by identifying cost performance gaps and opportunities to improve production efficiency,” says Sergey Turchin, director of operations consulting at Ziff Energy and the project manager for this study. “Participating operators will gain insight into how to best deploy their limited resources to improve their production operations.”
Upon completion of the Eagle Ford Shale Production Operations Benchmarking Study, Ziff Energy will conduct a Best Operating Practices Workshop for study participants.
Basin History
Petrohawk Energy Corporation, now part of BHP Billiton, drilled the first wells to produce oil and gas from the Eagle Ford Formation in 2008. Oil companies quickly extended the play from the Texas-Mexico border in Webb and Maverick counties 400 miles toward East Texas. The basin is 50 miles wide with an average thickness of 250 feet at a depth of between 4,000 and 12,000 feet. The shale is brittle with a much higher carbonate percentage, making it easier to use hydraulic fracturing to produce the oil or gas.
The oil reserves are estimated at 3 billion (B) barrels (bbl). In the first 6 months of 2013, the Eagle Ford Formation produced 600,000 bbl of oil and condensate per day as well as 2.7B cubic feet of gas. This oil production represents a 50-percent increase from the 2012 average. By the end of 2013, production skyrocketed to more than 1 million (M) bbl of oil equivalent per day. Production from the Eagle Ford Formation will increase in 2014 as oil and gas operators invest close to US $30B to unearth more crude oil and liquids.
Interested companies can learn more about the study by contacting Richard M. Tucker by phone at +1.713.985.5183 or by email at Richard(dot)Tucker(at)ziffenergy(dot)com.
About Ziff Energy
Ziff Energy, a division of HSB Solomon Associates LLC (Solomon), provides upstream performance assessment/improvement and custom consulting to the worldwide energy industry in more than 40 countries, and natural gas consulting services in North America. Solomon is the world’s leading performance improvement company for energy companies seeking to identify and close gaps in operational performance. Combining proven, patented methodologies with objective data analysis, and led by a team of oil and gas consultants steeped in hands-on operational experience, Solomon consistently helps clients with energy-intensive assets achieve greater efficiencies, enhanced reliability, and improved margins. Solomon is part of HSB Group, Inc. Learn more about Ziff Energy at http://www.ZiffEnergy.com. For information about Solomon, visit http://www.SolomonOnline.com.
Stephanie Wick, Idea Grove, +1 (972) 850-5866, [email protected]
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