Source: El Paso Corp.
El Paso Corporation (NYSE:EP) has decided to develop its Eagle Ford Shale program without a partner. This decision follows an extensive evaluation of proposals from potential partners.
"While interest in our Eagle Ford shale position was high, we believe that we will create greater value for shareholders by developing it ourselves," said Brent Smolik, president of El Paso Exploration & Production Company. "The Eagle Ford shale program is one of our most valuable assets, and we are very excited about the future of this program. It is a key resource for oil reserves and production growth; the wells in our Central area in LaSalle County, Texas are exceeding our expectations, and we continue to drive efficiencies in our drilling and completion processes as we have in the Haynesville shale program."