Eagle Ford Leads the State

Completions and Production Increased for April
April 2015 Eagle Ford Permits

April 2015 Eagle Ford Permits

Texas Railroad Commission released its latest statistics showing the state’s oil and gas production continues to impress, with the Eagle Ford leading the way.

Original drilling permits issued for April dropped from 1,919 last year to 848. Of the April total, 721 permits were for new oil and gas wells, 9 to re–enter existing well bores and 118 for re–completions.Broken down even further, April permits included 218 for oil, 51 gas, 530 oil and gas, 40 injection, zero service and nine other.

Related: Texas Drilling Permits down 50%

Statewide, well completions were up in April 2015, with operators reporting 1,867 oil, 314 gas, 125 injection and one other completions. In april 2014, there were 1,012 oil, 92 gas, 21 injection and four other completions. Total well completions for the year are still down by several thousand over this time last year.

Activity in the Eagle Ford continues lead the state in April with  176 permits to drill oil and gas, 222 oil completions and 94 gas completions.

Railroad Commissioner, Cristi Craddick said that “Texas’ prime production conditions have provided an environment well-suited for a dynamic, thriving oil and gas industry. Today, Texas continues to drive America’s competitiveness in the world’s oil market and ultimate independence from OPEC.””

The Commission estimates that final production for March 2015 was 84,879,948 barrels of crude oil and 533,174,979 Mcf of gas, with Eagle Ford counties remaining on top:

COUNTY – CRUDE OIL (BBLS)

  1.  KARNES – 6,755,884
  2.  LA SALLE – 4,586,791
  3.  DE WITT – 4,571,129
  4.  MCMULLEN – 3,252,014
  5.  GONZALES – 3,072,829
  6.  ANDREWS – 3,045,628
  7.  MIDLAND – 2,885,602
  8.  MARTIN – 2,883,997
  9.  UPTON – 2,703,478
  10. 10. REEVES – 2,155,608

Read more at rrc.org

EIA: Eagle Ford Oil Field Largest in the U.S.

Eagleville Usurps Alaska’s Prudhoe Bay
EIA Namess top 100 Oil & Gas Fields

EIA Namess top 100 Oil & Gas Fields

The Eagle Ford tops the list of the 100 largest oil fields in the country, with Eagleville overtaking Alaska’s Prudhoe Bay for the number one spot.

The Energy Information Administration (EIA) made it official, reporting that the shale oil boom has contributed significantly to the U.S. oil and gas reserves as production numbers skyrocketed between 2008-2013.

Related: EIA: Texas is Largest Producer of Shale Natural Gas

A new report released in late March and based on the latest data from 2013, shows the top 100 oil fields accounted for 20.6 billion barrels of crude oil and lease condensate proved reserves, which was 56% of the U.S. total.  The top 100 gas fields provided 68% of U.S gas reserves in 2013 with 239.7 trillion cubic feet of total natural gas proved reserves.

At the top of the list are two fields from the Eagle Ford Shale Play in Texas, Eagleville and Briscoe Ranch. Eagleville spans 14 counties in South Texas and is the country’s largest oil field, which produced 238,050 million barrels in 2013. These fields also made the top 20 list for natural gas with Eagleville coming in at 12 and and Briscoe Ranch at #13. Just a few short years before, these Eagle Ford fields did not even appear in the top 100.

EIA defines a field as an area consisting of a single reservoir or multiple reservoirs grouped on, or related to, the same individual geological structural feature or stratigraphic condition. There may be two or more reservoirs in a field that are separated vertically or laterally by geologic features. However, this definition is not used by all states; consequently, areas classified as individual fields by some states may be combined in EIA’s study.

Read full report at eia.gov

Eagle Ford Reaches One Billion Barrels of Crude

Can Historic Production of Texas Shale Continue?
alt="Eagle Ford at One Billion Barrels"

Eagle Ford Reaches One Billion Barrels

Amidst falling crude prices and dire predictions about the future of the industry, Wood Mackenzie announced that Eagle Ford reached an impressive milestone in November as production topped one billion barrels. Over the past two years, production in the Eagle Ford play has exploded and elevated the area as a major force in the world energy market.

Analyst Cody Rice told the San Antonio Express-News, “It puts the Eagle Ford in elite company on the world scale. It makes it even more clear that this is a world-class play.”

The boom in shale production from Eagle Ford began in 2008 as horizontal drilling was introduced in La Salle County and now encompasses a 30 county area across South Texas. The national impact of Eagle Ford shale cannot be overstated, and it is estimated that 16% of total U.S. oil is now coming from the play. Analysts predict that production will remain high through 2015. Energy research consultancy IHS estimates U.S. shale production will grow by 700,000 b/d at an average price of $77 per barrel in 2015.

In additional to Eagle Ford’s contribution to the global market, it is likely that the greatest benefit from this historic drilling boom is being experienced by local Texas communities. Billions of investment dollars are bringing jobs and economic growth to many small Texas towns and revitalizing formerly depressed areas.

Read more: Eagle Ford Ghost Town Coming Back to Life

Download the infographic from Wood Mackenzie.

Forest Oil Eagle Ford Drilling Shifting Gears in 2014 Due to Faulting

Forest Oil 30 Day Drilling Averages Down ~25% in Fourth-Quarter of 2013
Forest Oil Eagle Ford Acreage Map Year-end 2013

Forest Oil Eagle Ford Acreage Map Year-End 2013 | Click to Enlarge

Forest Oil is shifting gears in the Eagle Ford, after three gross (1.5 net) wells hit a fault line in the company’s southern acreage during the fourth-quarter.

In 2013, Forest reported results on 44 gross (22 net) wells, with a 30-day average gross production rate of 408 boe/d. By contrast, 17 gross (8.5 net) wells drilled during the fourth-quarter had a 30-day average gross production of 304 boe/d. That’s about ~25% less for the fourth-quarter, compared to the full year. Both gross production rates included the results from three gross (1.5 net) wells impacted by faulting.

The company had plans for 2014 to more than double its oil production in the Eagle Ford; however, due to faulting’s negative impact on production in the fourth-quarter, the company is pulling back the reins.

[Read more…]

EOG Resources Increases Eagle Ford Resource Potential by 1 Billion BOE in 2013

EOG Plans on Drilling 520 Net Eagle Ford Wells in 2014
EOG Resources Eagle Ford Acreage Map

EOG Resources Eagle Ford Acreage Map | Click to Enlarge

EOG Resource’s Eagle Ford resource potential went up 45% to 3.2 billion boe from 2.2 billion boe in 2013.

In 2014, EOG will be focusing a large portion of its $8.1 – $8.3 billion capital budget in the Eagle Ford Shale. This decision comes on the heels of increased well productivity and initial production rates in the play in 2013.

The company has plans to drill 520 net wells across its Eagle Ford acreage. At that rate, the company has a drilling inventory in the Eagle Ford of more than 12 years.

Read more: EOG Resources Western Eagle Ford Acreage Looks Better & Better 

[Read more…]

Cabot Completing First Six-Well Pad in Eagle Ford in 2014

Four Well Pads Come Online in Eagle Ford at Average Peak 24-hour Rate Per Well of 885 boe/d
Cabot Eagle Ford Drilling

Cabot Eagle Ford Drilling | Click to Enlarge

Cabot’s first four-well pads in the Eagle Ford came online during the fourth-quarter of 2013 and produced an average peak 24-hour rate per well of 885 boe/d.

The company had record production in 2013 of ~412 bcfe or 1.13 bcfe/d, an increase of 55% over 2012. Also, the company’s longest lateral well (8,708′) came online in the Eagle Ford in 2013. The well was completed with 31 frac stages, and reached a peak 24-hour rate of 1,344 boe/d (92% oil).

 

Read more: Cabot Oil & Gas More Confident in the Eagle Ford and Pearsall

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