This is an older blog post, you will find one on more recent data here
Tight oil production in the Eagle Ford was flat month over month in April at close to 1.1 million b/d. Year over year, output fell by just over 200 thousand b/d.
The number of horizontal oil-directed rigs active in the Eagle Ford basically hasn’t changed in the last 3 months and stayed at 38 as of last week (according to Baker Hughes).
Our Supply Projection dashboard shows what would happen if drilling activity would remain at this level:
Not factoring in the changes in well completion designs, well productivity was unchanged since 2017, as you’ll find in the “Well quality” overview. However, after normalizing for the increase in lateral length, we see that in the core 3 counties in the oil window (Karnes, DeWitt & Gonzales) well results have deteriorated, especially in the past 2 years:
The chart on the right reveals that on this normalized basis, the peak in productivity (average cumulative oil recovered per 1k feet of lateral length) was reached in 2017 and that in the last 2 years results have fallen short. I believe that the shut-ins since the start of the pandemic offer only a partial explanation for that (this became apparent after grouping the wells by quarter, instead of year of first production).
The output and location of the 10 largest operators in the basin are displayed in the final tab. ConocoPhillips has narrowed the gap with EOG, the number 1, by completing more wells since the start of this year.
Production data for May is already available in our subscription services for about 95% of the wells in Texas.
Our next post will be on Pennsylvania, which just released May production data (also already available in our analytics & data services).
Production and completion data is subject to revisions, especially for the last few months.
For this presentation, I used data gathered from the following sources:
- Texas RRC. Production data is provided on lease level. Individual well production data is estimated from a range of data sources, including regular well tests, and pending lease reports.
The presentations above have many interactive features:
- You can click through the blocks on the top to see the slides.
- Each slide has filters that can be set, e.g. to select individual or groups of operators. You can first click “all” to deselect all items. You have to click the “apply” button at the bottom to enforce the changes. After that, click anywhere on the presentation.
- Tooltips are shown by just hovering the mouse over parts of the presentation.
- You can move the map around, and zoom in/out.
- By clicking on the legend you can highlight the related data.
- Note that filters have to be set for each tab separately.
- The operator who currently owns the well is designated by “operator (current)”. The operator who operated a well in a past month is designated by “operator (actual)”. This distinction is useful when the ownership of a well changed over time.
- If you have any questions on how to use the interactivity, or how to analyze specific questions, please don’t hesitate to ask.