Eagle Ford Shale: Crude Oil Prices Level Off Development Activity

Pages: 51 Published: July 01, 2015 Report Code: GDGE0106MAR

  • Overview
  • Contents
  • Tables
  • Figures
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Operators in the Eagle Ford have cut 2015 capital budgets significantly due to lower crude oil prices and in the near term further development of the play will slow significantly compared to 2014. In order to reduce costs quickly, rig contracts have been wound down by operators resulting in a large drop in active rigs during the first quarter of 2015. In order to improve drilling economics, operators have focused on driving down well costs, pressuring service providers to drop costs, pushing drilling rates down, and testing alternative completion methods to improve well productivity. Due to the drastic shift in development schedules for operators, fewer wells are being drilled, completed and brought online. As a result, production levels from the Eagle Ford in 2015 are likely to see a minimal increase compared to 2014 and plateau until market conditions improve.

Scope

Report provides information and insight on:

Industry activity in the Eagle Ford (Acreage Positions, Rig Counts, Permit Activity, and Active Counties).

Look at current well design, configurations, and completion practices implemented in the Eagle Ford

Deeper understanding of break-even costs in the Eagle Ford for companies covered.

In depth look at current activities for covered companies and their projected rig counts and capital spending.

Current Globaldata crude oil projections for the Eagle Ford during current market conditions.

Reasons to Buy

Reasons to Buy

Understanding of the differentiating factors within counties in the Eagle Ford

Understanding of the impact of different strategies implemented by key operators

Identification of counties still seeing development under current market conditions as well as prospective counties to see increased development as market improves

Table of Contents

1Table of Contents

1Table of Contents1

1.1List of Tables3

1.2List of Figures4

2Key Points5

3Introduction5

4Geology7

5Acreage8

6Deals10

7Anadarko11

8Chesapeake13

9EOG14

10ConocoPhillips16

11Pioneer17

12Active Counties19

13Well Cost22

14Well Completion and Configuration23

15Rig Counts25

16Break-even Costs27

17Permit Activity29

18Estimated Ultimate Recovery31

19Capital Expense Forecast32

20Contracts34

21Projected Rig Counts35

22Crude Oil Production Forecast37

23Other Operators38

List of Tables

Table 1: Eagle Ford Geological Characteristics8

Table 2: Recent Eagle Ford Deals10

Table 3: Eagle Ford Well Design and Cost Estimations24

Table 4: Eagle Ford Well Configuration25

Table 5: Eagle Ford Rig Counts26

Table 6: Rig Count Drop in Eagle Ford27

Table 7: Capital Budget (US$ mil)32

Table 8: Contracts Awarded in the Eagle Ford34

Table 9: Gas Processing Facilities35

Table 10: Rigs36

Table 11: Production Figures of Operators in the Eagle Ford39

List of Figures

Figure 1: IP30 by County6

Figure 2: Top 10 Companies Eagle Ford Acreage9

Figure 3: Anadarko EUR (mboe)12

Figure 4: Chesapeake EUR (mboe)13

Figure 5: EOG EUR (mboe)15

Figure 6: ConocoPhillips EUR (mboe)17

Figure 7: Pioneer EUR (mboe)18

Figure 8: Active Wells19

Figure 9: Active Counties For Covered Companies20

Figure 10: Gross Oil Production by County (bd) 201421

Figure 11: Gross Gas Production by County (mmcfd) 201422

Figure 12: Eagle Ford Well Cost: GD Calculated Average vs Operator Reported Average23

Figure 13: Break-even (US$/bbl)28

Figure 14: Break Even (US$/bbl)29

Figure 15: Permits per County (Jan – Q2)30

Figure 16: County Average EUR (mboe) Per Well31

Figure 17: Eagle Ford Oil Production (bd)38

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