Eagle Ford Basin | October 2020
A heavy shale play, the Eagle Ford basin is located east of the Permian, stretching from Dallas to San Antonio. Primarily a gas field with smaller oil plays, it boasts proven reserves of 3.37 billion bbl of oil and 2.5 TCF of gas.
State Drilling Statistics (End of October)
Active Drilling Rigs in Basin- 17
Total Rigs in Texas- 132
Total Rigs in United States- 296
Total U.S. Rigs down 65% YTD
Eagle Ford Top Producers
Top Gas Producer- EOG Resources, INC.
Top Oil Producer- EOG Resources, INC.
Eagle Ford Drill King
San Antonio-based Lewis Energy Group is the “King of Permits” for the month of October as they plan to drill nine gas wells in the Eagle Ford Shale which is a welcome sight for the comparatively less active basin. While other permits were submitted to the Railroad Commission of Texas, not one other company came close to beating Lewis. The company plans to produce natural gas from these wells targeting a depth of 11,500 feet. The permits are surprising to see as the company has not seen any drilling activity for the past 7 months. Pricing may have been the incentive, but that is unlikely since the month of October saw volatile prices as low as $38 per barrel. October was a decent month for the Eagle Ford rig count even before Lewis began drilling as a two week increase of three rigs to 16 total rigs was observed by the end of the month. Although not nearly as active as Lewis Energy Group, US Energy Development Corp and Royal Production Company filed for permits as well. Things in the Eagle Ford may be slow, but never fully abandoned.
Top Gas Producers (2020 cum)
Top Oil Producers (2020 cum)
Texas Oil Production
Texas Gas Production
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