Eagle Ford Basin | September 2020
Field Overview
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 September)
Active Drilling Rigs in Basin- 12
Total Rigs in Texas- 113
Total Rigs in United States- 261
Total U.S. Rigs down 70% YTD
Eagle Ford Top Producers
Top Oil Producer-
Top Gas Producer-
Financial and Economic
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Little news and developments continue to come out of the Eagle Ford each month, and things are getting progressively worse. Although this month does feature an article about ConocoPhillips and its commitment to the Eagle Ford, most people have focused their efforts on the Permian. As it stands, Eagle Ford activity is dwindling, but we will continue to do our best to keep you informed as this basin does its best to weather the storm.
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State Highlights
Eagle Ford Identified
Although most talk of Texas operations has centered around the Permian basin, ConocoPhillips say the Eagle Ford will be their chief focus in terms of domestic and unconventional plays. In fact, they already have more rigs placed in the Eagle Ford than they do in the Permian at 4 of the total 12. Their current argument revolves around the lower GOR in the Eagle Ford as compared to the Permian, and lower cost of supply than the (comparatively) more active Permian. Although numbers are projected to grow as more and more wells are completed, ConocoPhillips was able to produce 162,000 barrels of oil equivalent per day from the Eagle Ford in Q2 of 2020. Comparatively, this is a little more than 3 times more than both wells in the Permian and the Bakken. Although they have been criticized to be slow moving in acting on either plans in the Permian or Eagle Ford, the company maintained that they want to do things correctly and remain in a “durable” position.
Refining
Texas Oil Production
Texas Gas Production
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PETRO Engineering, PLLC via the following sources unless otherwise
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www.eia.gov
www.drillinginfo.com
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