This interactive presentation contains the latest oil & gas production data from all 21,344 horizontal wells in the Eagle Ford region, that started producing since 2008, through July.
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In July 228 horizontal wells started production, the highest number in more than 3 years. Although the graph above shows a dip in production in July, this is partially because of reporting lag, and I expect that when these wells have a full month on production in August total output will show a bump.
Average production profiles haven’t changed much in the past couple of years, especially since 2017, as you can see in the ‘Well quality’ tab. Laterals (at ~ 7k feet) didn’t get any longer in 2018, while proppant intensity increased with about 10%. More information on these trends can be learned in our ShaleProfile Analytics service.
EOG is already for more than 5 years the top oil producer in this area, and it currently operates about 20% of total production capacity (“Top operators”).
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.
These curves appear to bend slightly downwards, hinting at a hyperbolic decline with a b-value smaller than 1. Production profiles with a harmonic decline (= hyperbolic decline with a b-value of 1) show up on this type of plot as a straight line.
The wells that started in 2014 (the year which saw the greatest number of new producers), are on track to recover on average 150 thousand barrels of oil (and ~0.6 Bcf of natural gas) before hitting a production rate of 30 bo/d.
Devon and ConocoPhillips are still showing the best well results on average, as measured by the cumulative oil production in the first 2 years (see “Productivity ranking”).
Early next week we will have a post on all 10 covered US states.
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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