Eagle Ford – update through November 2020

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.

Eagle Ford – update through October 2020

Tight oil production in the Eagle Ford was unchanged m-o-m at 1.1 million bo/d in October (after upcoming revisions). Compared with December 2019, the basin has lost 300 thousand bo/d. The main reason was that fewer than half the number of wells were completed through October than in the year before (882 vs 1,817).

Eagle Ford – update through September 2020

Tight oil production in the Eagle Ford held up at 1.1 million bo/d in September (after upcoming revisions). As is visible in the chart above, output from the ~2,800 wells that began production in the last 2 years contributed to 50% of total output in September.

Eagle Ford – update through August 2020

Tight oil production in the Eagle Ford made a small additional recovery in August, to about 1.1 million bo/d. This was still almost 20% lower than at the start of the year when output was close to 1.4 million bo/d.

Eagle Ford – update through July 2020

Like the Bakken and the Permian, oil production in the Eagle Ford also continued to recover in July, to close to 1.1 million bo/d (after upcoming revisions). But decline rates are higher here than in the other 2 tight oil basins, and in combination with the lack of new drilling output is falling steeper.

Eagle Ford – update 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.

Eagle Ford – update through May 2020

Oil production collapsed in May to 0.9 million bo/d (after upcoming revisions), a m-o-m decline of ~300 thousand bo/d. This brought output back to a level last seen 7 years ago.

Eagle Ford – update through April 2020

Oil production in the basin fell in April to 1.25 million bo/d, a m-o-m decline of 100 thousand bo/d. This drop was similar in size as experienced in August 2017 when Harvey hit the area. Based on preliminary data, I expect a steeper one in May.

Eagle Ford – update through March 2020

March oil production hovered at around 1.34 million bo/d, the same level as since the start of the year (after upcoming revisions). As is shown by the colored areas in the chart above, over half of production in March came from wells that started producing since 2019.

Eagle Ford – update through February 2020

February oil production fell by 1%  m-o-m, to just over 1.3 million bo/d. Although natural gas production fell by a similar amount to 6.5 Bcf/d, it has held up better over the years, due to lower decline rates (toggle “product” to gas to see this).