This interactive presentation contains the latest oil & gas production data from 18858 horizontal wells in the Eagle Ford region (TRRC districts 1-5), through December 2016.
Oil production in this region kept falling in December, and came in just below 1050 kbo/d. As you can see from the light blue area, production from all wells that started before 2016 declined during 2016 from 1440 kbo/d to 675 kbo/d. This means that the overall annual decline rate was just above 50%. For gas this metric was a little less steep (just above 40%). Future revisions will increase the displayed production numbers for the last few months a bit.
The production profiles for all these wells are shown in the “Well quality” overview. The rather straight shape of these curves, on a semi-log plot, indicate a close to exponential decline rate.
The top graph in the “Well status” overview shows the number of new horizontal wells put on production each month in this region. The major pullback since late 2014 is visible, as the monthly new well additions dropped to a level of about 100 wells a month, which was last seen in 2010 when the Eagle Ford just started to boom.
The performance of the largest operators is visualized in the last tab (“Top operators”). Here you’ll notice that Devon Energy increased production significantly in the final month of 2016, but still ended the year about 1/3rd lower.
The ‘Advanced Insights’ presentation is displayed below:
The “Ultimate Recovery” overview shows how the 2010-2015 wells are heading towards their ultimate recovery.
As you can see the main change over these years has been the increase in early production. Probably the higher proppant volumes are an important factor behind this.
The orange curve, which plots the performance of the 2014 wells, shows a top of just over 400 bo/d in the first full calendar month on production, while the end of the curve marks an average production rate of just below 60 bo/d after 2 years.
Switch to “Quarter / month of first flow” in the “Show wells by” selection to see more granular, and recent data, but the general shape of these curves will be similar.
In the “Well status map” tab you can see the location of all these wells, and find out where new wells have been brought online recently.
On Thursday I plan another update on the Permian.
Production data is subject to revisions, especially for the last few months. For this presentation, I used data gathered from the following sources:
- Texas RRC. Individual well profiles are estimated from well status & lease production data, as this data is not provided by the RRC. Detailed location data is available for more than 90% of the wells displayed; the remaining wells are shown near the center of the county in which they are located. I’ve no spud, DUC, or plugging information on wells & DUCs in Texas, so these statuses are unavailable. Formation data in Texas is only available on lease level; therefore, in cases where wells on the same lease are drilled in different formations, this information is not accurate.
The above presentation has many interactive features:
- You can click through the blocks on the top to see the slides.
- Each slide has filters that can be set, e.g. to select individual or groups of operators. You can first click “all” to deselect all items. You have to click the “apply” button at the bottom to enforce the changes. After that, click anywhere on the presentation.
- Tooltips are shown by just hovering the mouse over parts of the presentation.
- You can move the map around, and zoom in/out.
- By clicking on the legend you can highlight the related data.
- Note that filters have to be set for each tab separately.
- The operator who currently owns the well is designated by “operator (current)”. The operator who operated a well in a past month is designated by “operator (actual)”. This distinction is useful when the ownership of a well changed over time.
- If you have any questions on how to use the interactivity, or how to analyze specific questions, please don’t hesitate to ask.