Eagle Ford Leads Texas in Gas Production

February 28, 2017 Elizabeth Alford

The Texas Railroad Commission (RRC) released its preliminary full year production numbers for 2016, showing the Eagle Ford Shale the biggest producer of natural gas in Texas.

The Eagle Ford Shale leads Texas in natural gas production, according to the RRC. For full year 2016, the state's regulatory agency reported total gas production at 7,969,918,341 (mcf). This figure is broken down by region to include:

Eagle Ford Shale: 5357 (MMcf)
Permian Basin: 5193 (MMcf)
Barnett Shale: 3775 (MMcf)
Haynesville : 887 (MMcf)

For December, 2016, Webb County was the top producing Texas county. The chart below shows the top 10 in the state, with five being in the Eagle Ford.

The EIA recently announced it expects the trend to slow and that natural gas production in the Eagle Ford will decline in March by 25 MMcf/d to almost 5.6 Bcf/d, its lowest level since November 2013. Natural gas production from the other big shale basins is projected to increase to a record high 49.1 billion cubic feet per day (Bcf/d) in March.

Eagle Ford Rig Count Solidly in the 70s

February 25, 2017 Elizabeth Alford

The Eagle Ford Shale rig count increased by three this week, with our data showing 74 rigs running across our coverage area by midday Friday.

In recent Eagle Ford News, the U.S. Energy Information Administration's (EIA) is projecting that oil production in south Texas will reverse its recent trend. In its drilling productivity report, the agency expects that production for the region will rise by 14,000 bbl/d to 1.08 MMbbl/d in March.

A total of 754 oil and gas rigs were running across the United States this week, an increase of four over than last week. 151 rigs targeted natural gas (2 less than the previous week) and 602 were targeting oil in the U.S. (five more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 386 of the rigs active in the U.S. were running in Texas.

Baker Hughes reports its own Eagle Ford Rig Count that covers the 14 core counties. The rig count published on EagleFordShale.com includes a 30 county area impacted by Eagle Ford development. A full list of the counties included can be found in the table below.

Eagle Ford Oil & Gas Rigs

Five rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.79/mmbtu.

69 Eagle Ford rigs were targeting oil with WTI oil prices increasing slightly to $53.99

A total of 67 rigs are drilling horizontal wells, three are drilling directional wells and four are vertical.

Karnes County leads this week with 17 rigs in production. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

Eagle Ford Shale News

Eagle Ford Oil Production to Rise While Gas Decreases

Noble Energy 'Rapidly Accelerating' 2017 Development

RRC Prepares for More Oil and Gas Drilling

EnerVest Shifts from Barnett to Eagle Ford

Pioneer Will Resume Eagle Ford Drilling

What is the Rig Count?

The Eagle Ford Shale Rig Count is an index of the total number of oil & gas drilling rigs running across a 30 county area in South Texas. The South Texas rigs referred to in this article are for ALL drilling reported by Baker Hughes and not solely wells targeting the Eagle Ford formation. All land rigs and onshore rig data shown here are based upon industry estimates provided by the Baker Hughes Rig Count.

Matador: Delaware Basin Overtakes Eagle Ford

February 23, 2017 Elizabeth Alford

For the past three years, Matador Resources has seen a huge shift in production from its Eagle Ford Shale operations to its assets in the Delaware Basin.

Matador Resources announced its financial and operating results for the third quarter and full year 2016, which included a net loss of $97.4 million for the full year. Company executives anticipate oil production for 2017 at 6.7 to 7.0 million barrels, a 34% increase over 2016.

Production from matador's eagle Ford operations has decreased over the past three years, while the percentage from the Delaware Basin has increased.

EFS

2014: 22.3 MMBOE, 32%
2015: 19.0 MMBOE, 22%
2016: 13.3 MMBOE, 13%

DELAWARE

2014: 13.0 MMBOE, 19%
2015: 47.1 MMBOE, 56%
2016: 79.4 MMBOE, 75%

2017

The majority of Matador's $370 to $390 million for 2017 capital spending will go to the Delaware Basin, with plans to drill and place on production 91 gross (56.2 net) wells. The company will limit spending in the Eagle Ford, with most of the region's budget focused on maintaining and extending leases.

“There’s a lot of potential still left in the Eagle Ford. We’ve only completed in the lower Eagle Ford. It’s becoming apparent that there are further opportunities in the upper Eagle Ford or in the Austin Chalk, upper and lower Austin Chalk.”

— Joe Foran - Chairman, CEO and Secretary

Fourth Quarter 2016 Highlights

Decreased salt water disposal and chemical costs associated with its Eagle Ford operations
Net income of $104.2 million
Adjusted net income, a non-GAAP financial measure, of $7.2 million
Record average daily oil production of approximately 15,700 barrels of oil per day- a 5% increase over Q3 and an increase of 36% year-over-year
Natural gas production of approximately 85.5 million cubic feet per day-a 1% decrease of 1% from Q3 and an increase of 19% year-over-year

Eagle Ford Oil Production to Rise While Gas Decreases

February 20, 2017 Elizabeth Alford

The Eagle Ford Shale will experience production increases in March for oil, but natural gas will decrease, according to the U.S. Energy Information Administration's (EIA).

Oil production in the Eagle Ford has not risen since 2015, but that should change this quarter, according to the EIA. In its drilling productivity report, the agency expects that production for the region will rise by 14,000 bbl/d to 1.08 MMbbl/d in March.

While oil production will rise, natural gas production in the Eagle Ford will decline in March by 25 MMcf/d to almost 5.6 Bcf/d, its lowest level since November 2013. Natural gas production from the other big shale basins is projected to increase to a record high 49.1 billion cubic feet per day (Bcf/d) in March.

EIA also said producers drilled 760 wells and completed 668 in the biggest shale basins in January, leaving total drilled but uncompleted wells (DUCs) up 92 at 5,381, the most since April.

A total of 753 oil and gas rigs were running across the United States this week, 11 more than last week. 153 rigs targeted natural gas (4 more than the previous week) and 597 were targeting oil in the U.S. (six more than the previous week). The remainder were drilling service wells (e.g. disposal wells, injection wells, etc.) 378 of the rigs active in the U.S. were running in Texas.

Texas Rig Count Rises, Eagle Ford Gains 1

February 17, 2017 Elizabeth Alford

The Eagle Ford Shale rig count inched up this week, with our data showing 71 rigs running across our coverage area by midday Friday.

In recent Eagle Ford news, Pioneer Natural Resources announced they will spend $95 million in the Eagle Ford Shale in 2017, including plans to complete 20 wells.

Eagle Ford Oil & Gas Rigs

Six rigs in the Eagle Ford region targeted natural gas this week with the commodity trading at $2.83/mmbtu.

65 Eagle Ford rigs were targeting oil with WTI oil prices dipping slightly to $53.40

A total of 64 rigs are drilling horizontal wells, two are drilling directional wells and three are vertical.

Karnes County leads this week with 15 rigs in production. See the full list below in the Eagle Ford Shale Drilling by County below.

Eagle Ford Shale Drilling by County

Eagle Ford Shale News

Noble Energy 'Rapidly Accelerating' 2017 Development

RRC Prepares for More Oil and Gas Drilling

Pioneer Will Resume Eagle Ford Drilling