Eagle Ford Basin | January 2023
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 play 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 (-)
Total Rigs in Texas- 370 (-)
Total Rigs in United States- 760 (-)
Total U.S. Rigs 
18% YTD
Eagle Ford Permitting Data
Permits Approved – 133
Eagle Ford Top Producer
Top Producer- EOG Resources
–
Basin Highlights
Chesapeake Narrows Lower 48 Focus by Cutting Eagle Ford Stake in $1.4B Deal
Chesapeake continues to sell portions of its Eagle Ford asset base. In January, they inked a deal with Wildfire Energy to sell 377,000 net acres and 1,350 wells for $1.425 billion. Chesapeake is attempting to divest all of its 610,000 net acres position in the Eagle Ford and continues to market its remaining acreage in South Texas. Chesapeake CEO Nick Dell’Osso has indicated that the company will focus more heavily on its Haynesville and Marcellus positions in the near future.
Eagle Ford: Texas Oil and Natural Gas Industry Paid Record $24.7 billion in Taxes and State Royalties in Fiscal Year 2022, Shattering Previous High by 54%
According to the Texas Oil and Gas Association (TXOGA), the Texas oil and gas industry paid $24.7 billion in state taxes, local taxes, and royalties in 2022. The previous record was $16 billion in 2019. Texas school districts received $1.65 billion in property taxes last year, with eight of ten Eagle Ford Independent School Districts (ISDs) receiving more than 50% of their tax revenue from oil and gas production royalties last year. Four of the top ten Eagle Ford counties got over 50% of their property taxes from the oil and gas industry in the same period.
Marathon Oil Completes $3B Eagle Ford Assets Purchase
Marathon Oil has completed the purchase of Ensign Natural Resources whose acreage is Live Oak, Bee, Karnes, and DeWitt Counties in South Texas. The deal was announced in November of 2022. Marathon Oil expects to produce 22,000 net bopd and 270 MMcfd from the acreage. Marathon announced plans to run 1 rig on the acreage in the next year and to bring between 35 and 40 wells on production. Marathon Oil CEO Lee Tillman highlighted a number of operational and administrative efficiencies and synergies that Marathon Oil hopes to achieve in the acquisition.
Top Operators By Permit Approvals
| Rank | Company | Permits Approved |
| 1 (Tied) | BPX | 14 |
| 1 (Tied) | Marathon | 14 |
| 3 | EOG | 13 |
| 4 | Exxon | 11 |
| 5 | ConocoPhillips | 9 |
Top Operators by Production
| Rank | Company | November Oil Production (MBO) |
| 1 | EOG Resources | 5,108 |
| 2 | ConocoPhillips | 4,131 |
| 3 | Marathon | 3,007 |
| 4 | Chesapeake | 2,683 |
| 5 | Devon Energy | 1,684 |
Rig Count
Texas Oil Production
Texas Gas Production
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