Eagle Ford Basin | May 2021
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 (End of May)
Active Drilling Rigs in Basin- 33
Total Rigs in Texas- 218
Total Rigs in United States- 457
Total U.S. Rigs up 52% YTD
State Permitting Data (End of May)
Permits Approved – 221
Eagle Ford Top Producers
Top Gas Producer- EOG Resources, INC.
Top Oil Producer- EOG Resources, INC.
Evolution Petroleum Acquires Tokyo Gas Barnett Shale Assets
Houston based Evolution Petroleum acquired about 21,000 net acres in the Barnett Shale in North Texas from Tokyo Gas Americas which will further diversify Evolution’s asset base. “This transaction represents another substantive step in the company’s efforts to further diversify and grow its asset base through the acquisition of primarily long-life, developed oil and gas properties, which will be supportive of the company’s dividend,” Jason Brown, president and CEO of Evolution Petroleum, said in a statement on May 10. Evolution is focused on long term goals based on acquiring a diversified portfolio, meaning 2020 may have been a blessing in disguise for them. Their primary assets are royalty and working interests in a CO2 EOR project in Louisiana. They also hold working interest in a secondary recovery project in Wyoming’s Hamilton Dome Field. Their Tokyo Gas purchase afforded them 21,000 acres of assets for the cost of $19.6 million in cash. The estimated production sits at 17 MMcf/d of natural gas along with 1300 bpd of liquids.
Operators with Most Permits (March)
Top BOE Production By Operator (2021 cum)
Texas Oil Production
Texas Gas Production
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