Eagle Ford Basin | February 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- 54 (+4)
Total Rigs in Texas- 284 (+311)
Total Rigs in United States- 650 (+40)
Total U.S. Rigs 62% YTD
Eagle Ford Permitting Data
Permits Approved – 123
Eagle Ford Top Producers
Top BOE Producer- Pioneer
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Basin Highlights
Targa to Sell Gulf Coast Express Pipeline Stake for $857 Million
The Gulf Coast Express Pipeline is partially owned by a variety of companies, one of those was Targa Resources Corp. who recently sold their 25% equity interest for $857 million. This will help offset the cost of Targa’s recent purchase of $925 million worth of assets from Stonepeak Partners LP. The Gulf Coast Express Pipeline transports natural gas from the Permian basin to export facilities along the Gulf Coast and is partially owned by Kinder Morgan Inc., Altus Midstream and DCP Midstream. The buyer in the recent Targa deal is still undisclosed.
Flaring Of Gas Falls Off In Permian And Bakken – And Why That’s Good News.
Nearly all of the U.S.’s major shale basins contribute to emissions via flaring or venting natural gas, with the exception of the Marcellus which captures nearly 100% of produced gas. Flaring and venting account for a loss of $1.5 million per day at the current prices. Not only that but they cause significant environmental damage, hence the recent crackdown by governments to reduce and eliminate venting and flaring. The Permian and Eagle Ford basins in Texas are primarily oil basins and therefore flare more associated gas. These basins also have old infrastructure that is responsible for extra leakage.
Magnolia Plans to Stay the Course in Eagle Ford, Austin Chalk
Magnolia Oil and Gas Corp. will continue the success it had last year with its two rig system where one rig drills development wells and the other primarily appraisal wells. Operations will continue in both the Giddings and in Karnes counties. Magnolia CEO Steve Chazen expects an 8-9% production growth rate in the Eagle Ford basin this year using the two rig system. The company is currently refining their well spacing plan in hopes of squeezing out some savings to help combat the rising costs of inflation.
Operators with Most Permits
Rank | Company | Permits Approved |
1 | EOG | 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 (1/22) |
1 | Pioneer | 88.6 |
2 | COG Operating | 27.6 |
3 | Apache Corp. | 22.9 |
4 | XTO Energy | 18.8 |
5 | Laredo Petroleum | 17.6 |
Rig Count

Texas Oil Production

Texas Gas Production

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