If the land owners didn't get a good lawyer a lot of companies are drilling a more shallow well to lock-in the lease (since they didn't put depth restrictions in the lease - or FYI never use the company form).
The wet Eagle Ford are about 8000 ft deep so those wells are much more to go to the EF shale but I just looked one up in Frio county were they actually Horz. an Austin Chalk (right about the Eagle Ford) instead and only got 637bbl/day start. (Talking abuot a thin line company on capital). Back in the early 90's there was a big boom there for oil in Austin Chalk but they typically don't last more than a year for the drillers get greedy and increase pump pressure and collapse closing the....
The dryer Southern part (even though it is lower, right?) is about 11K+ and costs a lot more. Yet the lower Olmos is (5K & 7K) is cheaper to lock in a lease but who knows when they'll ever drill an Eagle Ford well? I think some shelf keeps the oil in shallower North EF. http://www.energyindustryphotos.com/eagle_ford_shale__formation_of_s.htm
News 
Market Data 
Discover 
