shaleprofile + 243 February 18, 2021 This article contains still images from the interactive dashboards available in the original blog post. To follow the instructions in this article, please use the interactive dashboards. Furthermore, they allow you to uncover other insights as well. Visit ShaleProfile blog to explore the full interactive dashboard These interactive presentations contain the latest oil & gas production data from all 25,337 horizontal wells in the Eagle Ford region, that have started producing from 2008 onward, through November 2020. Total production Tight oil production in the Eagle Ford came in at just below 1.1 million bo/d in November, a level at which it had hovered for already 4 months. Natural gas output was also near a 6-year low at 5.3 Bcf/d. Supply Projection Although the horizontal rig count has tripled since the bottom in August, to 32 as of last week (source: Baker Hughes), this level is not yet sufficient to maintain current output as is visualized in the following graph: These interactive presentations contain the latest oil & gas production data from all 25,337 horizontal wells in the Eagle Ford region, that have started producing from 2008 onward, through November 2020. Total production Tight oil production in the Eagle Ford came in at just below 1.1 million bo/d in November, a level at which it had hovered for already 4 months. Natural gas output was also near a 6-year low at 5.3 Bcf/d. Supply Projection Although the horizontal rig count has tripled since the bottom in August, to 32 as of last week (source: Baker Hughes), this level is not yet sufficient to maintain current output as is visualized in the following graph: Tight oil outlook in the Eagle Ford, based on current drilling activity & productivity The image above was taken from our Supply Projection dashboard. Permit activity The lack of sufficient interest is also visible in our new Permit Activity dashboard: Number of permits for new horizontal drills in the Eagle Ford, by quarter and permit status. The previous (Q4 2020) and current quarter are on track for a total of below 300 permits for new horizontal wells, a near record low in the past decade. If you’re interested in these permits, I recommend to sign up for a trial to explore this dashboard. With Oklahoma being completed in the coming days, we’re now tracking real-time new permits in all the major states. Other charts allow you to see which operators are actively requesting these permits, and where the permitted wells are located exactly. Well status With relatively few wells being completed and high decline rates, the basin is aging quite fast. This can be viewed in the Well Status dashboard within our subscription service: Well count by output level in the Eagle Ford. Horizontal oil wells only. The chart on the right shows the number of wells by oil production rate in the Eagle Ford. Only horizontal oil wells are included. As you’ll see, in November about 13 thousand of the 22 thousand wells in this area were below a production rate of 25 bo/d (incl. 2 thousand that didn’t produce any oil). Top operators The 5 largest operators in the basin are displayed in the final tab. EOG is now producing almost twice as much as the number 2, Chesapeake. 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. Note that since 2017 there have not been any productivity improvements, on average. Finally Folks are having a hard time in this part of Texas due to the extraordinary weather circumstances, our thoughts are with them! Next week we will have a new post on gas production in Pennsylvania, which just released data for December (already available in our subscription services) 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 Visit our blog to read the full post and use the interactive dashboards to gain more insight: http://bit.ly/3qxPSzG Follow us on Social Media: Twitter: @ShaleProfile LinkedIn: ShaleProfile Facebook: ShaleProfile Quote Share this post Link to post Share on other sites
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