Eagle Ford – update through June 2020

This is an older blog post, you will find one on more recent data here

These interactive presentations contain the latest oil & gas production data from all 24,933 horizontal wells in the Eagle Ford region, that have started producing from 2008 onward, through June 2020.

Total production

After a 30% drop in May, Eagle Ford oil production recovered by almost 100 thousand bo/d to close to 1 million bo/d in June (after upcoming revisions).  Although natural gas production has held up better (toggle “Product” to gas), output for the month (~5.4 Bcf/d) was not far above the 2017 low.

Supply Projection dashboard

The outlook for the basin further worsened compared with last month, as 2 more horizontal rigs were dropped (to 10), according to the Baker Hughes rig count. In the hypothetical case that this level does not change, then our projection has output falling to below 0.7 million bo/d by the end of next year, as you can view in our Supply projection dashboard:

Top operators

The 5 largest operators in the basin are displayed in the final tab. Of these, ConocoPhillips responded the most drastically as it shut in over 70% of its capacity by June.

Advanced Insights

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.

As you can see, already before the impact from covid-19, well productivity seemed to have hit a ceiling in 2017 (even not taking into account more intense completions).

This is confirmed by this screenshot from our ShaleProfile Analytics (Professional) service, in which I’ve selected only oil wells (a subscription only feature):

Finally

July production data for over 90% of the wells in the Eagle Ford is already available in our subscription services.

Later this week we will have a post on gas production in Pennsylvania, which released July production data a few days ago (almost immediately afterwards available for our subscribers).

Production and completion data is subject to revisions, especially for the last few months.

Sources

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.
• FracFocus.org

Brief manual

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.

Enno Peters

Enno Peters is General Manager at Novi, where he has build an AI-driven data & analytics platform tailored for oil & gas operators and energy investors. Prior to Novi, Enno founded ShaleProfile which was acquired by Novi late 2021.