Tight oil output in the Eagle Ford recovered by 200 thousand b/d in March from the February 8-year low.

[shaleprofile + 243]

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

This interactive presentation contains the latest oil & gas production data from all 25,474 horizontal wells in the Eagle Ford region, that have started producing from 2008 onward, through March.

Total production

Tight oil production in the Eagle Ford recovered in March by 200 thousand bo/d to almost 1.1 million bo/d, while natural gas output came in at over 5.5 Bcf/d (after upcoming revisions, horizontal wells only).

Well performance

Well results are not higher (but neither lower) than in 2017, on average, as the bottom chart in the ‘Well quality’ tab shows.

Just a single county, Karnes, is responsible for over a quarter of oil production. Here we show a ranking of all operators in Karnes, by the average cumulative oil production in the first 2 years that their wells were on production:

Operator ranking in Karnes County, based on the average cumulative oil recovered in the first 2 years. Operators with fewer than 10 wells are excluded.

The 34 wells that INPEX, a Japanese company, currently operates and that already produced for at least 2 years, show the best results. On average, these wells recovered 248 thousand barrels of oil. EOG, the largest operator holds the 6th position; its 744 wells recovered 196 thousand bbl. This image was taken from our Productivity Ranking dashboard.

Top operators

The output and location of the 10 largest operators in the basin are displayed in the final tab. The gap between EOG and ConocoPhillips, the numbers 1 and 2 respectively, narrowed to 55 thousand bo/d. EOG is suffering from deteriorating well performance, which you can see in this screenshot:

EOG’s well performance in the Eagle Ford.

The chart on the right plots the performance by vintage; the y-axis represents the average production rate (b/d), while the x-axis displays cumulative production. This reveals at least 2 findings:

• all its vintages are trending towards an EOR shy of 300,000 bbl
• the 237 wells that it completed last year recovered on average 81 thousand barrels of oil in the first 5 months, vs. 113 thousand barrels that its wells completed in 2017 made in the same time frame.

Finally

Our next post will be on Pennsylvania, which just released April production data (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: https://bit.ly/35Fko1F

Follow us on Social Media:

Twitter: @ShaleProfile

LinkedIn: ShaleProfile

Facebook: ShaleProfile