This is an older blog post, you will find one on more recent data here
This interactive presentation contains the latest oil & gas production data from all 23,673 horizontal wells in the Eagle Ford region, that have started producing from 2008 onward, through August 2019.
Oil production in the basin has hovered around 1.3 million bo/d since the start of this year. Through August, just over 5 wells have been completed every day, on average, which has countered the natural decline in legacy wells.
As mentioned in earlier posts, well productivity hasn’t changed in the since 2017, as you’ll find in the “Well quality” tab. Normalizing for the increase in lateral length (which is made very easy in our analytics service), well results are slightly down.
This probably also explains why most of the largest operators here are below their peak output (“Top operators”).
In previous posts on the other basins, we included a screenshot from our new “Productivity Ranking” dashboard, available in ShaleProfile Analytics. Here you can find the results for the Eagle Ford:
Devon and ConocoPhillips show the best results. Their wells recovered on average over 200 thousand barrels of oil in the first 2 years on production.
The ‘Advanced Insights’ presentation is displayed below:
This “Ultimate recovery” overview reveals the relationship between production rates and cumulative production. Wells are grouped and averaged by the year in which production started.
This chart also reveals that well performance hasn’t changed since 2017. New wells are on a trajectory to recover about 200 thousand barrels of oil, before their production rate has fallen below 20 bo/d, on average. This however also includes a number of gas wells (filtering for these well types is a subscription-only feature).
Early next week we will have a new post on all covered states in the US.
Have a blessed and happy Thanksgiving!
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.