Eagle Ford Shale in the US, 2019 – Oil and Gas Shale Market Analysis and Outlook to 2023

During 2018 Eagle Ford came back as one of the lucrative destinations for the oil and gas companies. The shale play reverted a production decline and leading operators continue to increase the scale of their operations. There are still some sections within the Eagle Ford shale play which are underdeveloped, especially in the northern part comprising the Burleson and Brazos counties and some companies are also assessing the overlying Austin Chalk formation. Recent M&A activity, such as the one involving Chesapeake Energy’s acquisition of WildHorse Resources, confirms that operators are looking for development opportunities outside the crowded Karnes Trough area of the play. The location of the play allows for better oil and natural gas pricing in comparison to Permian output with proximity to major hydrocarbon processing facilities and export terminals on the Gulf Coast. All this along with sufficiently developed midstream infrastructure are important aspects in the enduring attractiveness of Eagle Ford for oil and gas companies.

Scope

The report analyzes the oil and gas appraisal and production activities in the Eagle Ford shale. The scope of the report includes:

- Comprehensive analysis of crude oil & condensate, and natural gas production across major counties in Texas during 2013–2018, as well as production outlook from 2019 to 2023

- In-depth information of well permits issued in the Eagle Ford shale by county and by company for 2018

- Detailed understanding of IP rates and type well profiles in Austin Chalk and Eagle Ford formations

- Exhaustive analysis of Eagle Ford’s competitive landscape in terms of net acreage, gross production, cost trends and planned investments.

- Comparison of type well economic metrics of major players were also compared

- Up-to-date information on major mergers and acquisitions, and contracts in the Eagle Ford shale between 2013 and 2018

- Overview of midstream and downstream infrastructure for Eagle Ford shale

Reasons to buy

- Develop business strategies with the help of specific insights into the Eagle Ford shale

- Plan your strategies based on expected developments of the Eagle Ford shale

- Understand the competitive landscape of the companies in the Eagle Ford shale

- Keep yourself informed of the latest developments and contracts in this attractive shale play

- Identify opportunities and challenges in the Eagle Ford shale in the US

Table of Contents

1. Table of Contents 1

1.1. List of Tables 3

1.2. List of Figures 4

2. Overview 5

2.1. Eagle Ford Recent ...

1. Table of Contents 1

1.1. List of Tables 3

1.2. List of Figures 4

2. Overview 5

2.1. Eagle Ford Recent Developments and Trends 5

3. Eagle Ford Shale, Introduction 9

3.1. Eagle Ford Shale, Overview 9

3.2. Eagle Ford Shale, Nearby Infrastructure 9

4. Eagle Ford Shale, Production and Activity Overview 10

4.1. Eagle Ford Shale, Production Analysis by County, 2013–2018 10

4.1.1. Eagle Ford Shale, Gross Crude and Condensate Production by County, 2013–2018 10

4.1.2. Eagle Ford Shale, Gross Natural Gas Production by County, 2013–2018 12

4.2. Eagle Ford Shale, Production Outlook, 2019–2023 13

4.2.1. Eagle Ford Shale, Production Outlook, 2019–2023 13

4.3. Eagle Ford Shale, Drilling Activity, 2018 15

4.3.1. Eagle Ford Shale, Permits Issued and Completed 15

4.3.2. Eagle Ford Shale, Well Permits by County 16

4.3.3. Eagle Ford Shale, Well Permits by Company 18

5. Eagle Ford Shale, Competitive Landscape 20

5.1. Eagle Ford Shale, Major Companies by Acreage, 2018 20

5.2. Eagle Ford Shale, Major Companies by Gross Production, 2018 21

4.2.1 Eagle Ford Shale, Initial Production Rates 23

4.2.2. Austin Chalk vs Eagle Ford, Well Profile 23

5.3. Eagle Ford Shale, Future Plans by Major Companies 26

5.3.1. Eagle Ford Shale, Planned Investments, 2019 26

5.4. Eagle Ford Shale, Cost Trends, 2017–2018 27

5.4.1. Eagle Ford Shale, Well Costs 27

6. Eagle Ford Shale, Analysis of Top Five Companies 28

6.1. Eagle Ford Shale, Economic Metrics of Major Players 28

6.2. EOG Resources Inc. 29

6.2.1. Key Operational Parameters 29

6.3. Chesapeake Energy Corporation 30

6.3.1. Key Operational Parameters 30

6.4. Marathon Oil Corporation 32

6.4.1. Key Operational Parameters 32

6.5. ConocoPhillips 33

6.5.1. Key Operational Parameters 33

6.6. Sanchez Energy Corporation 35

6.6.1. Key Operational Parameters 35

7. Eagle Ford Shale, Associated Infrastructure 37

7.1. Pipelines 37

7.2. LNG Facilities and Refining Units 37

8. Mergers and Acquisition Activity in the Eagle Ford Shale, 2013–2018 38

8.1. Major Acquisitions 38

8.1.1. BP acquired Petrohawk Energy from BHP 38

8.1.2. Chesapeake Energy announced the acquisition of WildHorse Resource Development 38

8.1.3. Noble Energy acquired Rosetta Resources 38

9. Recent Developments and Contracts in the Eagle Ford Shale, 2013–2018 42

9.1. Recent Developments 42

9.2. Recent Contracts 47

10. Appendix 49

10.1. Abbreviations 49

10.2. Methodology 49

10.2.1. Coverage 49

10.2.2. Secondary Research 49

10.3. Contact Us 50

10.4. Disclaimer 50

List of Tables

Table 1:Type Well Economics Comparison for Selected Operators 6

Table 2:Austin Chalk Wells by County (2017 and 2018) 7

Table 3:Eagle Ford ...

Table 1:Type Well Economics Comparison for Selected Operators 6

Table 2:Austin Chalk Wells by County (2017 and 2018) 7

Table 3:Eagle Ford Shale, Crude Oil and Condensate Production by County, mbd, 2013–2018 11

Table 4:Eagle Ford Shale, Natural Gas Production by County, mmcfd, 2013–2018 13

Table 5: Eagle Ford Shale, Production Outlook, 2019–2023 14

Table 6: Eagle Ford Shale, Number of Drilling Permits Issued and Completed, Jan 2018 to Dec 2018 16

Table 7:Eagle Ford Shale, Number of Well Permits by County, Texas, 2018 17

Table 8: Eagle Ford Shale, Number of Well Permits by Operator, Texas, 2018 19

Table 9: Eagle Ford Shale, Net Acreage by Operator, 2018 21

Table 10: Eagle Ford Shale, Major Companies by Gross Production, 2018 (mboed) 22

Table 11: Eagle Ford Shale, Major Companies by Initial Production Rates, 2018 23

Table 12: Typical Type Well for Austin Chalk and Eagle Ford by Phase Region 25

Table 13: Eagle Ford Shale, Planned Capital Expenditure by Major Companies, 2019 (US$ Million) 26

Table 14: Eagle Ford Shale, Major Companies by Well Costs, 2018 27

Table 15: Eagle Ford Shale, Major Companies by Type Well Data, 2018 28

Table 16: EOG Resources Inc., Eagle Ford Shale, Key Operational Parameters, 2018 29

Table 17: EOG Resources Inc., Eagle Ford Shale, Key Economics, 2018 30

Table 18: Chesapeake Energy Corporation, Eagle Ford Shale, Key Operational Parameters, 2018 31

Table 19: Chesapeake Energy Corporation, Eagle Ford Shale, Key Economics, 2018 31

Table 20: Marathon Oil Corporation, Eagle Ford Shale, Key Operational Parameters, 2018 32

Table 21: Marathon Oil Corporation, Eagle Ford Shale, Key Economics, 2018 33

Table 22: ConocoPhillips, Eagle Ford Shale, Key Operational Parameters, 2018 34

Table 23: ConocoPhillips, Eagle Ford Shale, Key Economics, 2018 34

Table 24: Sanchez Energy Corporation, Eagle Ford Shale, Key Operational Parameters, 2018 35

Table 25: Sanchez Energy Corporation, Eagle Ford Shale, Key Economics, 2018 36

Table 26: Eagle Ford Shale, Major Deals by Oil and Gas Companies, 2013–2018 39

List of Figures

Figure 1:Eagle Ford Shale, Crude Oil and Condensate Production by County, mbd, 2013–2018 5

Figure 2:Historical Wells Drilled in Austin Chalk by ...

Figure 1:Eagle Ford Shale, Crude Oil and Condensate Production by County, mbd, 2013–2018 5

Figure 2:Historical Wells Drilled in Austin Chalk by Operator 8

Figure 3: Eagle Ford Shale, Crude Oil and Condensate Production by County, mbd, 2013–2018 11

Figure 4: Eagle Ford Shale, Natural Gas Production by County, mmcfd, 2013–2018 12

Figure 5: Eagle Ford Shale, Production Outlook, 2019–2023 14

Figure 6: Eagle Ford Shale, Permits Issued and Completed, 2018 15

Figure 7: Eagle Ford Shale, Number of Well Permits by County, Texas, 2018 17

Figure 8: Eagle Ford Shale, Number of Well Permits by Operator, Texas, 2018 18

Figure 9: Eagle Ford Shale, Major Companies by Acreage, 2018 20

Figure 10: Eagle Ford Shale, Major Companies by Gross Production, 2018 (mboed) 22

Figure 11: Austin Chalk Type Well (combined oil, condensate and gas) 24

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