Eagle Ford Basin | August 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- 71 (
-1)
Total Rigs in Texas- 359 (-10)
Total Rigs in United States- 759 (-3)
Total U.S. Rigs 
51% YTD
Eagle Ford Permitting Data
Permits Approved – 120
Eagle Ford Top Producer
Top BOE Producer- EOG Resources
–
Basin Highlights
Devon Energy Doubles its Eagle Ford Footprint in $1.8 Billion Deal
On August 9, 2022, Devon Energy of Oklahoma City, OK, announced an agreement to purchase Validus Energy, a pure-play Eagle Ford player with 42,000 net acres of operations in Karnes County, TX. This acquisition adds 35,000 boe/d of production and 350 drilling locations to Devon’s South Texas position. The acreage is near existing Devon leaseholds in the oil window of the Eagle Ford Shale and Devon expects to achieve a number of operational and administrative synergies in the deal. The deal is expected to close at the end of Q3 2022.
Chesapeake to Exit Eagle Ford Shale in Pivot to Natural Gas
Chesapeake Energy announced an ambition to sell their holdings in South Texas in order to fund a more focused pursuit of gassier targets. CEO Domenic J. Dell’Osso indicated that drilling budgets in Southern Louisiana and in East Texas’ Haynesville Shale will be increased in 2023. The Marcellus, too, will be a greater focus point for the company moving forward. There is indication that Chesapeake was working with advisers in the spring of 2021 to market the Eagle Ford asset for approximately $2 billion. Dell’Osso said that the divestiture of the long-held acreage “will not be a firesale”.
Top Operators By Permit Applications
| Rank | Company | Permits Approved |
| 1 | Trinity Operating | 18 |
| 2 | EOG Resources | 17 |
| 3 | ConocoPhillips | 14 |
| 4 | BP | 11 |
| 5 | Lewis | 7 |
| 5 | Ranger Oil | 7 |
| 5 | Texas American Resources | 7 |
Top Operators by Production
| Rank | Company | Last 12 Oil (MMBO) |
| 1 | EOG Resources | 54.5 |
| 2 | ConocoPhillips | 39.7 |
| 3 | Chesapeake Energy | 31.4 |
| 4 | Marathon Oil | 26.5 |
| 5 | Devon Energy | 15.2 |
Rig Count
Texas Oil Production
Texas Gas Production
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