Production in the Eagle Ford recovered somewhat in June, after the 30% drop in May.
With just 10 rigs active and productivity peaking, the outlook is grim. ConocoPhillips had still 70% of its production curtailed.
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 24,933 horizontal wells in the Eagle Ford region, that have started producing from 2008 onward, through June 2020.
After a 30% drop in May, Eagle Ford oil production recovered by almost 100 thousand bo/d to close to 1 million bo/d in June (after upcoming revisions). Although natural gas production has held up better (toggle “Product” to gas), output for the month (~5.4 Bcf/d) was not far above the 2017 low.
Supply Projection dashboard
The outlook for the basin further worsened compared with last month, as 2 more horizontal rigs were dropped (to 10), according to the Baker Hughes rig count. In the hypothetical case that this level does not change, then our projection has output falling to below 0.7 million bo/d by the end of next year, as you can view in our Supply projection dashboard:
Tight oil outlook for the Eagle Ford at current drilling levels and productivity.
The 5 largest operators in the basin are displayed in the final tab. Of these, ConocoPhillips responded the most drastically as it shut in over 70% of its capacity by June.
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.
As you can see, already before the impact from covid-19, well productivity seemed to have hit a ceiling in 2017 (even not taking into account more intense completions).
This is confirmed by this screenshot from our ShaleProfile Analytics (Professional) service, in which I’ve selected only oil wells (a subscription only feature):
Well productivity in the Eagle Ford. Horizontal oil wells only.
July production data for over 90% of the wells in the Eagle Ford is already available in our subscription services.
Later this week we will have a post on gas production in Pennsylvania, which released July production data a few days ago (almost immediately afterwards available for our subscribers).
Production and completion 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 lease reports.
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