Rosetta’s total daily oil production increases by 34% in 2013

Rosetta Resources’ total daily production increased by 34% in 2013 compared with the prior year while total liquids production increased by 43% over the same period.

The full-year output averaged 50 MBoe/d and production growth reflects continued progress in the development of the company’s Eagle Ford assets.

The announcement was made in the company’s preliminary operational results report for 2013.

During the fourth quarter of 2013, the company has successfully completed the first of three horizontal Wolfcamp wells spud in the region.

With 13 frac stages across a 4,000ft length, the Gaucho state 15-2H well was completed in the upper Wolfcamp interval and entered into service in December.

It was tested at a seven-day gross stabilized rate of 613 Bbls/d of oil, 788 Mcf/d of residue gas, and 85 Bbls/d of NGLs for an equivalent rate of 829 Boe/d.

The estimated ultimate recovery (EUR) for a horizontal upper Wolfcamp well is estimated to be around 500 – 600 gross MBoe (74% oil / 10% NGLs).

On 30 December, the company signed deal with private parties to acquire Delaware basin assets, including 13 gross producing wells for $85m.

During the fourth quarter, Rosetta recorded 17% rise in production to 52,000 barrels of oil equivalent per day (Mboe/d) on an average, compared with the same period a year ago. Total liquids production averaged 32,000 barrels per day (MBbls/d).