Eagle Ford Basin | April 2022
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)
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.
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.”
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
Top BOE Production By Operator
|Rank||Company||MMBOE Production (Feb/22)|
Texas Oil Production
Texas Gas Production
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