Eagle Ford Shale, of South Texas in the US, has re-emerged as an attractive destination for oil and gas companies over the next four years, according to a report by GlobalData.
During 2018, recoverable resources in the Eagle Ford Shale play became a lucrative destination for the oil and gas companies, a 51-page report evaluating the area’s exploration and production outlook from 2019 to 2023, has found.
Future of Eagle Ford Shale: a reversal of fortunes
The shale play reverted a production decline and leading operators continue to increase the scale of their operations, GlobalData analysts said.
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 shale 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.
The major counties for prolific crude oil and condensate production in the Eagle Ford play include Karnes, De Witt, La Salle, Dimmit, and Gonzales.
The Eagle Ford play also constitutes largely of condensates and dry gas resources. The major producing counties for natural gas include Webb, Karnes, De Witt, Dimmit and La Salle.
Total production across major counties in the Eagle Ford shale play
EOG Resources Inc, Chesapeake Energy Corporation, Marathon Oil Corporation, ConocoPhillips and Noble Energy are the leading producers in the Eagle Ford shale in 2018.