EON Resources, the operator of two fields in southeastern New Mexico, has identified a new interval that could help increase its daily production.<\/p>\n
The company\u2019s in-house technical team completed engineering and petrophysics studies of the three main pay sections in the South Justis Unit, all part of the Yeso Formation, to assess their horizontal drilling potential. The study found the Blinebry interval has significantly better horizontal drilling potential than the San Andres Formation. EON estimates horizontal drilling could develop recoverable reserves of about 13 million barrels of oil from the interval.<\/p>\n
\u201cWe anticipate 21 high-quality horizontal wells capable of producing 700 to 1,100 BOPD, each at an average estimated cost of $4.7 million per well,\u201d said Dante Caravaggio, CEO of EON, \u201cas compared to 92 wells in our current San Andres horizontal well program, which are capable of producing 400-700 BOPD at a cost of $3.5 million per well.\u201d<\/p>\n
The company estimates remaining oil in place at 200 million barrels and ultimate recovery at an average of 650,000 barrels per well, or 13 million barrels across 21 wells, with peak production of 10,000 barrels of oil per day in 2028.<\/p>\n
EON acquired the South Justis Unit, which was developed by Atlantic Richfield Co., in 2025. The unit consists of 5,360 contiguous leasehold acres, 97 producing wells and 85 injection wells for a total of 182 wells.<\/p>\n
EON next plans to evaluate whether it should \u201cgo it alone\u201d or seek a farmout drilling partner for development of the South Justis Unit, as it previously did in the Grayburg-Jackson Field, so development can begin in 2027.<\/p>\n
A similar technical analysis of the company\u2019s Grayburg-Jackson Field in Eddy County, New Mexico, resulted in a 92-well, $330 million drilling program to develop an estimated probable recovery of 45 million barrels.<\/p>\n","protected":false},"excerpt":{"rendered":"EON Resources, the operator of two fields in southeastern New Mexico, has identified a new interval that could…\n","protected":false},"author":2,"featured_media":27635,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21068],"tags":[21104,21103,42,2241],"class_list":["post-69108","post","type-post","status-publish","format-standard","has-post-thumbnail","category-e-on","tag-e-on","tag-e-on-se","tag-news","tag-oil"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/69108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=69108"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/69108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/27635"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=69108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=69108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=69108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}