Eagle Ford News Pulse September 2021

Posted: October 20, 2021

Eagle Ford Basin | September 2021

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- 37
Total Rigs in Texas- 243
Total Rigs in United States- 497
Total U.S. Rigs up 98% YTD

Eagle Ford Permitting Data

Permits Approved – 244

Eagle Ford Top Producers

Top BOE Producer- EOG

Basin Highlights

Global Investment Firm Buys Rosewood Eagle Ford Asset in $450 Million Deal

Warwick Investment Group has agreed to buy Rosewood Resources Inc.’s Eagle Ford properties, as the global investment group tries to capitalize on a growing opportunity in the oil market. Warwick said that it has reached a deal with Rosewood Resources to acquire the operating oil and gas assets in Texas, which will be offset by Warwick Athena, a business managed by Warwick Investment Group. Though the terms of the deal were not disclosed, the firm stated that the combined purchase price and anticipated development capital represents a $450 million investment in the Eagle Ford for Warwick.

PHX Minerals Adds to Haynesville Position with Multiple Acquisitions

PHX Minerals Inc. is expanding its Haynesville presence with a pair of acquisition agreements for assets controlled by some of the shale play’s top producers. According to the statement, PHX Minerals has entered into agreements to acquire certain mineral and royalty interests totaling approximately 817 net royalty acres in East Texas and Louisiana for cash and shares in two distinct transactions. The names of the buyers and sellers were not revealed. The purchase assets have estimated reserves of 8.5 billion cubic feet of gas and are now producing 0.062 million cubic feet of gas per day net. There are additionally 46 PDP gross wells, 15 gross wells in progress, and an estimated 149 gross undrilled locations included in the deal.

Crescent Pass Expands into Eagle Ford Shale with Armor Energy Acquisition

Penn Virginia has proposed an all-stock acquisition of Lonestar Resources. There are distressed companies with a lot of debt, such as Lonestar, that are nonetheless smart buys. Unless Crescent Pass announced several of the purchases that signaled the company’s debut into the Eagle Ford Shale. Crescent Pass announced the completion of the acquisition of producing assets in the northern Eagle Ford play from Tulsa, Oklahoma-based Armor Energy LLC, as well as three bolt-on acquisitions in the Cotton Valley trend in East Texas, in a press statement. According to the press release, the deals raise Crescent Pass’s corporate footprint to 974 operated wells and net production to roughly 6,400 boe/d, evenly split between oil and natural gas. More than 140,000 net HBP acres in various counties across Texas and Louisiana sustain the assets.

Operators with Most Permits (June)

3Marathon Oil9
3Aethon Energy9
Hyperlinks to available Q1 2021 Reports

Top BOE Production By Operator

RankCompanyMMBOE Production (8/21)
1 EOG58.0
3 Marathon Oil29.3
4 Devon19.8
5Chesapeake Energy10.7
Hyperlinks to available Q2 2021 Reports

Rig Count

Texas Oil Production

Texas Gas Production

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