Forest Oil partners with Schlumberger on Eagle Ford development

Forest Oil Corp. announced it signed an agreement with oilfield services company Schlumberger for the development of Forest's Eagle Ford Shale acreage in Gonzales County, Texas.

Forest Oil said Schlumberger will pay $90 million for future drilling and development costs of the field. As a result, Schlumberger will earn a 50 percent working interest in the shale acreage.

Future drilling participation by the companies will occur on a 50/50 basis, according to Forest Oil.

Assistance from Schlumberger will come in the form of service offerings and management support for drilling, completion and lifting technologies, reservoir management technologies and the development of unconventional resources workflows, Forest Oil stated.

"We are pleased to be part of this exciting opportunity, in which Forest and Schlumberger are fully aligned and committed to the development of Forest's Eagle Ford unconventional resources," said Schlumberger Production Management President Carl Trowell. "Our primary goal will be to support and complement Forest's current team, and to develop and deploy industry-leading technologies; develop the best unconventional resource workflows; and implement new reservoir management techniques in order to maximize production and reserves."

To learn more about Eagle Ford Shale in the United States, visit PennEnergy's research area.

Forest Oil Corp. announced it signed an agreement with oilfield services company Schlumberger for the development of Forest's Eagle Ford Shale acreage in Gonzales County, Texas.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs