Eagle Ford Basin | September 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 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- 365 (
+6)
Total Rigs in United States- 769 (+10)
Total U.S. Rigs 42% YTD
Eagle Ford Permitting Data
Permits Approved – 176
Eagle Ford Top Producer
Top Producer- EOG Resources
–
Basin Highlights
Chesapeake Says Tremendous Interest in Eagle Ford Assets
Chesapeake has seen considerable interest in its Eagle Ford assets after having announced an intention to sell its oilier assets in August. If Chesapeake completes this sale, it will have no oily assets in its portfolio and will be solely a dry gas producer. Its other assets are concentrated in the Marcellus and in the Haynesville. Chesapeake, after having emerged from bankruptcy two years ago, has experienced 53% in stock appreciation this year–largely due to natural gas reaching a 14-year high. CEO Nick Dell’Osso indicated a bullishness on natural gas prices in the long term, driven partially by the rapid development of LNG infrastructure in the developed world.
Silver Hill’s $1.2B Fund Targeting Haynesville, Eagle Ford, and Austin Chalk Natural Gas Development
Silver Hill Energy Partners, a prolific oil and gas investing firm, has raised a $1.2 billion fund to invest in the Austin Chalk, Haynesville, and Eagle Ford plays. Currently, Silver Hill has 70 wells in these plays producing 250 MMcf/d. The firm controls 30,000 net acres with the ambition of deploying funds to acquire more. Silver Hill is on it’s third iteration and is likely to develop a strong production base and then sell to other operators in the region. Other firms of similar disposition are investing heavily in these gassier plays, including Momentum Midstream LLC who is building a 1.7 Bcf/d gathering system in the Haynesville.
Top Operators By Permit Approvals
| Rank | Company | Permits Approved |
| 1 | EOG Resources | 28 |
| 2 | Grit Oil and Gas | 21 |
| 3 | Silverbow Resources | 14 |
| 4 | Trinity Operating | 12 |
| 5 (Tied) | BPX | 10 |
| 5 (Tied) | Escondido | 10 |
Top Operators by Production
| Rank | Company | September Oil Production (MBO) |
| 1 | EOG Resources | 5,034 |
| 2 | ConocoPhillips | 4,062 |
| 3 | Marathon Oil | 2,490 |
| 4 | Chesapeake Energy | 2,445 |
| 5 | Devon Energy | 2,076 |
Rig Count
Texas Oil Production
Texas Gas Production
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