Eagle Ford Basin | April 2022
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
Active Drilling Rigs in Basin- 56 (+6)
Total Rigs in Texas- 357 (+11)
Total Rigs in United States- 728 (+336)
Total U.S. Rigs 37.5% YTD
Eagle Ford Permitting Data
Permits Approved – 123
Eagle Ford Top Producers
Top BOE Producer- Burlington (ConocoPhillips)
–
Basin Highlights
ConocoPhillips Steps Up Land Sale with Divestiture of some Eagle Ford Assets
Part of ConocoPhillips plan to double down in the Permian basin within Texas is to divest their assets elsewhere. Details are still unknown but the US producer is expected to sell off over $100 million worth of assets in the Eagle Ford basin, also located largely in Texas. A large sum of money to be sure, however, it pales in comparison to Conoco’s spending in the last year and a half. Within 18 months the company has spent $23 billion on assets within the Permian, solidifying their dominant position in the highest producing basin in the country.
Eagle Ford Producer Ranger Oil Launches $100 Million Share Repurchase Program
Ranger Oil Corporation is based in Houston, Texas and has operations in the Eagle Ford basin in south Texas. The company recently initiated a share buyback program that will run until March next year. Darrin Henke, president and CEO of Ranger, commented “This program is part of our strategy to maximize shareholder value through efficient deployment of our operational cash flow with a focus on risk-adjusted cash-on-cash returns.”
Unregulated Pipeline Break in Webb County Highlights Texas Oil and Gas Accountability Problem
The U.S. has over 400,000 miles of small pipelines used to transport oil and gas around the country. Most of the large pipelines such as the Trans-Alaska Pipeline are well known and fairly well regulated, while the smaller are often a tad more overlooked. Big Cowboy pipeline is one such smaller line that recently sent around 900 metric tons of methane into the atmosphere in the Eagle Ford basin. Lack of stricter regulations and monitoring for smaller pipelines is being brought into question because of the incident.
Operators with Most Permits
Rank | Company | Permits Approved |
1 | COG | 12 |
2 | TEP Barnett | 10 |
2 | Validus NRG | 8 |
3 | Recoil Resources | 6 |
4 | Burlington (ConocoPhillips) | 5 |
Top BOE Production By Operator
Rank | Company | MMBOE Production (Feb/22) |
1 | Burlington (ConocoPhillips) | 11.6 |
2 | EOG | 10.9 |
3 | Rockcliff Energy | 10.6 |
4 | XTO Energy | 9.0 |
5 | Marathon | 6.0 |
Rig Count

Texas Oil Production

Texas Gas Production

Click above to subscribe to the RARE
PETRO Podcast Network or visit
www.rarepetro.com/podcasts
The information contained in this newsletter is provided by RARE
PETRO Engineering, PLLC via the following sources unless otherwise
noted:
www.eia.gov
www.drillinginfo.com
www.bhge.com
RARE Petro Analytics