Eagle Ford Basin | March 2020
The current WTI price is $25.88/bbl. 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- 57
Total Rigs in Texas- 338
Total Rigs in United States- 664
Total U.S. Rigs down 35.2% YTD
Eagle Ford Top Producers
Top Gas Producer- XTO
Top Oil Producer- EOG
Financial & Economic Updates
Epic Crude Oil Pipeline Enters Service, Connecting Permian, Eagle Ford Supply With Gulf Coast Demand
- Epic Crude Holdings LP said Wednesday that its 30-inch diameter Epic Crude Oil Pipeline, which connects West and South Texas supply with Gulf Coast demand, has entered service.
Schlumberger Cuts Executive Salaries, Workforce
- Schlumberger will implement salary reductions and job cuts, which is in line with its plans that include a reduction in capital spending.
- Executives will take a voluntary 20% base salary reduction, starting 1 April, and worldwide support personnel will adopt unspecified “modified schedules” that reduce salaries.
- A company spokesperson also said its North American business will accelerate a restructuring that includes job cuts and furloughs over the next couple of months.
- Schlumberger had said it would cut capital spending by 30% from its 2019 level as it looks to reduce staff and compensation in response to the COVID-19 and its impact across the industry.
Lonestar signs Eagle Ford agreement for longer laterals, HBPs
- Lonestar Resources isn’t going at the Eagle Ford shale alone this year. The independent exploration and production company has signed a joint development agreement in Gonzales County, Texas, with another producer. The agreement will cover the development of an area of mutual interest spanning nearly 15,000 acres.
- Through the agreement, Lonestar will operate a minimum of 3 to 4 Eagle Ford Shale wells annually on behalf of the two companies through 2022 that are intended to hold-by-production (“HBP”) approximately 6,000 gross acres within the AMI. The agreement gives Lonestar’s partner the option to participate in each well with a 50 percent working interest or to participate via a carried working interest that ranges from approximately 9 percent to 17 percent, depending on location.
Top Gas Producers
(MMscf / Month)
Top Oil Producers
Texas Gas Production
Texas Oil Production
Click above to subscribe to the RARE
PETRO Podcast Network or visit
The information contained in this newsletter is provided by RARE
PETRO Engineering, PLLC via the following sources unless otherwise
RARE Petro Analytics
Subscribe To News Pulse
Subscribe to receive the latest news and updates from our team.