This is an older blog post, you will find one on more recent data here
Oil production in the Eagle Ford during 2018 stayed within a few percent of the 1.3 million bo/d level set in December 2017, and I expect that to hold also after upcoming upward revisions. Through November, operators completed 10% more wells than in the same period in 2017.
Well productivity hasn’t changed much in the past year, as you can easily see in the bottom graph of the ‘Well quality’ tab.
All leading operators were off their peak production in November (see ‘Top operators’), although EOG & ConocoPhillips only marginally so.
The ‘Advanced Insights’ presentation is displayed below:
In this “Ultimate Recovery” overview, the relationship between production rates and cumulative production is revealed. Wells are grouped by the year in which production started.
So far most oil has been recovered by the 4,465 wells that started in 2014; they are now at 155 thousand barrels of oil and at a flow rate of 31 bo/d, on average. Newer wells are on a path to recover about 30 thousand barrels of oil more once they hit the same level.
We have seen quite some interest in the Austin Chalk formation in this area. Production is increasing, although from a small base. This screenshot, from our advanced analytics service, compares the performance of wells in the Austin Chalk and the Eagle Ford, for the 2015-2017 vintages, with only oil wells selected.
Austin Chalk vs. Eagle Ford
Clearly, recent Austin Chalk wells are outperforming those in the Eagle Ford.
Early next week we will have a post covering data from 10 states in the US.
Production 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 above presentations 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.