← Go back to All Blogs

Eagle Ford - update through September 2018

Sign in to follow this  
Followers 0
shaleprofile

241 views

This interactive presentation contains the latest oil & gas production data from all 21,698 horizontal wells in the Eagle Ford region, that started producing since 2008, through September.

Graph_01.jpg

Visit ShaleProfile blog to explore the full interactive dashboards

Although from the above graph it appears that oil production in the Eagle Ford has moved sideways in 2018, due to the typical reporting lag in Texas, I expect to see that after revisions production from horizontal wells will come in at 1.3 – 1.4 million bo/d in September. That would be highest level in the past 2.5 years, but still well below the 2015 peak.

 

Graph_02.jpg

One reason for that is that well productivity hasn’t increased so much in the past 4 years, as you’ll see in the ‘Well quality’ tab. This despite that laterals have gotten longer (by about 1/3rd), and more frac sand is typically used nowadays (it more than doubled). You’ll be able to normalize for these factors in our online Analytics service.

 

Graph_03.jpg

The basin is aging rather rapidly, and in September almost 80% of these horizontal wells were producing below 50 bo/d, as can be seen in the bottom plot of the ‘Well status’ overview. However, that number does include about 3,000 gas wells as well (filtering these is a subscription-only feature).

 

Graph_04.jpg

The 2 leading operators, EOG & ConocoPhillips, either set new production records in September, or were close (‘Top operators’).

 

The ‘Advanced Insights’ presentation is displayed below:

Graph_05.jpg

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. I’ve preselected the Austin Chalk and Eagle Ford formations.

As you can see, wells from the 2010-2012 time frame are now on average below 20 bo/d, after having recovered 120-150 thousand barrels of oil (and 0.7-1 Bcf of natural gas). Wells that started in 2017 peaked at a rate of 664 bo/d, and declined to a level of 174 bo/d in the next 8 months, having recovered just over 100 thousand barrels of oil. More recent and granular data can be found if you select to group the wells by quarter or month of first production (using the ‘Show wells by’ selection).

 

The WSJ just published an interesting article in which they compared actual verses operator reported well performance. Many of our subscribers and readers have told us that they value our services due to the independent and accurate reporting of production data.

In February we will be at the NAPE summit in Houston, so please stop by our booth if you are joining this event as well.

 

Early next week we will have a post on the Permian again, on which we also have a more detailed update in our upcoming enelyst chat on Tuesday.

 

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 data reports.
  • FracFocus.org

 

Visit our blog to read the full post and use the interactive dashboards to gain more insight http://bit.ly/2s048ED

 

Follow us on Social Media:

Twitter: @ShaleProfile
Linkedin: ShaleProfile
Facebook: ShaleProfile

 

Sign in to follow this  
Followers 0


1 Comment


Recommended Comments

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now