Home >> Heavy Industry >> Energy & Resources >> Energy

Eagle Ford Shale: Crude Oil Prices Level Off Development Activity

Published: Jul-2015 | Format: PDF | GlobalData | Number of pages: 51 | Code: MRS - 27388

Eagle Ford Shale: Crude Oil Prices Level Off Development Activity

Summary

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

- 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

1 Table of Contents 2
1.1 List of Tables 4
1.2 List of Figures 5

2 Key Points 6

3 Introduction 7

4 Geology 9

5 Acreage 11

6 Deals 13

7 Anadarko 15

8 Chesapeake 17

9 EOG 19

10 ConocoPhillips 21

11 Pioneer 23

12 Active Counties 25

13 Well Cost 29

14 Well Completion and Configuration 31

15 Rig Counts 33

16 Break-even Costs 36

17 Permit Activity 38

18 Estimated Ultimate Recovery 39

19 Capital Expense Forecast 41

20 Contracts 42

21 Projected Rig Counts 44

22 Crude Oil Production Forecast 46

23 Other Operators 47

24 Appendix 49
24.1 Abbreviations 49
24.2 Methodology 49
24.2.1 Coverage 49
24.2.2 Secondary Research 50
24.3 Disclaimer 50

List of Tables

Table 1: Eagle Ford Geological Characteristics 10
Table 2: Recent Eagle Ford Deals 13
Table 3: Eagle Ford Well Design and Cost Estimations 31
Table 4: Eagle Ford Well Configuration 32
Table 5: Eagle Ford Rig Counts 34
Table 6: Rig Count Drop in Eagle Ford 35
Table 7: Capital Budget (US$ mil) 41
Table 8: Contracts Awarded in the Eagle Ford 42
Table 9: Gas Processing Facilities 43
Table 10: Rigs 44
Table 11: Production Figures of Operators in the Eagle Ford 47

List of Figures

Figure 1: IP30 by County 8
Figure 2: Top 10 Companies Eagle Ford Acreage 11
Figure 3: Anadarko EUR (mboe) 16
Figure 4: Chesapeake EUR (mboe) 17
Figure 5: EOG EUR (mboe) 19
Figure 6: ConocoPhillips EUR (mboe) 22
Figure 7: Pioneer EUR (mboe) 23
Figure 8: Active Wells 25
Figure 9: Active Counties For Covered Companies 26
Figure 10: Gross Oil Production by County (bd) 2014 27
Figure 11: Gross Gas Production by County (mmcfd) 2014 28
Figure 12: Eagle Ford Well Cost: GD Calculated Average vs Operator Reported Average 30
Figure 13: Break-even (US$/bbl) 36
Figure 14: Break Even (US$/bbl) 37
Figure 15: Permits per County (Jan - Q2) 38
Figure 16: County Average EUR (mboe) Per Well 39
Figure 17: Eagle Ford Oil Production (bd) 46

Inquiry For Buying

Please fill your details below, to inquire about this report:
Indicates required fields

Request Sample

Please fill your details below, to receive sample report:
Indicates required fields

Single User | $(USD)1500 View Pricing