Reversing its original 2015 development plan for South Texas, Penn Virginia is discontinuing drilling in the Upper Eagle Ford and focusing on two-string Lower Eagle Ford wells primarily in Gonzales County. The move follows a string of lower-than-expected IP rates in the Upper Eagle Ford, where 10 wells drilled since the end of Q1 averaged 618 boe/d. That’s 40% lower than the 1,027 boe/d recorded for 10 Lower Eagle Ford wells completed during the......
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