GlobalData’s latest report, “Eagle Ford Shale in the US, 2021 – Oil and Gas Shale Market Analysis and Outlook to 2025,” provides a comprehensive review of the hydrocarbon appraisal and development in the Eagle Ford shale play and also gives an outlook for oil and gas production in this shale till 2025 along with the competitive positioning of major operators.
The Eagle Ford shale is predominantly located over 27 counties across the south and east Texas in the US. In 2020, the rig count in the shale declined due to the Covid-19 outbreak, leading to a sharp decline in total production from 1,390 thousand barrels of oil per day (Mbd) in March 2020 to 927Mbd in May 2020. In August and September 2020, the rig count reached the lowest in the Eagle Ford shale for the first time in several years. By the end of 2020 and into 2021, production recovered to some extent, however, the ice storm that hit the Texas state resulted in a further decline in production in February 2021. Nevertheless, since then, production activities in this shale are expanding gradually and are forecasted to exceed pre-pandemic levels by 2025.
Production in the Eagle Ford shale has been stable since the end of Q1 2021. Drilling activity in this shale is expected to maintain an upward trend over 2021-25. During this period, crude oil production in the Eagle Ford shale is expected to have a steeper recovery compared to that of natural gas, however, both commodities are expected to exceed 2020 production levels by 2025.
According to GlobalData, the Eagle Ford shale has been a lucrative destination for exploration and production activities. Karnes, La Salle, De Witt, Webb and Gonzales are the most prolific counties in this shale. EOG Resources accounts for the largest leaseholds in the Eagle Ford shale as of October 2021. It is also the top crude oil producer in this play. ConocoPhillips , Marathon Oil , Chesapeake Energy and CNOOC Limited are the other leading operators in this shale.