This interactive presentation contains the latest oil & gas production data through March from 20,615 horizontal wells in the Eagle Ford region (TRRC districts 1-4), that started producing since 2008.
Growth is tepid in the Eagle Ford basin, and recent oil output remains well below the high set in March 2015, even after upcoming upward revisions.
Although well productivity has also improved in this basin, as shown in the ‘Well quality’ tab, the effect has been more modest. After normalizing for the increase in lateral length, it almost disappears, despite that the amount of proppants used has doubled over the past 4 years.
EOG is the largest oil producer in this area with ~ 250 thousand bo/d operated production capacity (see the ‘Top operators’ tab).
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 quarter in which production started.
For example, the thick blue curve, representing the 1,024 horizontal wells that started in Q3 2013 peaked on average at a rate of 361 bo/d, and are now just below 24 bo/d, after having recovered 133 thousand barrels of oil and 0.5 Bcf (you can click on this group in the color legend to highlight the related curve).
In comparison, the 474 wells that started in Q4 2017 peaked at double the rate. But will they also double the ultimate oil & gas recovery? It’s too early to tell for sure, but noting that the decline behavior has been relatively predictable in the past, it appears they will fall short of that.
Later this week I will have a post on all 10 covered US states, followed by an update on North Dakota.
We will be present at the URTeC in Houston later this month, so if you would like to meet us, or learn more about our upcoming analytics services, I hope to see you there.
You can follow me here on Twitter: https://twitter.com/ShaleProfile
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.
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