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Home > Oil and Gas >  Upstream >  Eagle Ford Shale in the United States of America (USA) – Oil and Gas Shale Market Analysis and Outlook to 2025

Eagle Ford Shale in the United States of America (USA) – Oil and Gas Shale Market Analysis and Outlook to 2025

According to GlobalData, crude oil and condensate production in the Eagle Ford Shale in the US was 1,121.3 mbd in 2020 and natural gas production was 6,187.3 mmcfd during the same period. According to GlobalData, crude oil and natural gas production in the Eagle Ford shale is projected to maintain an upward trend throughout the forecast period of 2021-2025. Natural gas production in the Eagle Ford shale is expected to grow more than 15% during 2021-2025. During the same time frame, crude oil production in the shale is expected to grow more than 25%. Thus, both the commodities are expected to exceed their 2019 level of production by 2025.

The Eagle Ford shale saw its lowest rig count in the past several years during August and September 2020 with only 10 rigs active due to the COVID-19 pandemic and related crisis. This decline in rig count resulted in a sharp decline in total production. Since then, the Eagle Ford has seen a steady increase in rig count reaching 30 rigs in January 2021, 35 rigs in April 2021, and 38 rigs as in September 2021. While production started to recover at the end of 2020 and into 2021, Texas experienced a massive ice storm throughout the state that severely crippled operators’ ability to maintain their production facilities. This ice storm resulted in a further decline of production in February 2021 before recovering back to post-COVID-19 production and decline.

What are the market dynamics in the Eagle Ford Shale in the US?

During the early shale boom in the US, the Eagle Ford play was one of the most lucrative destinations for exploration and production (E&P) activities for small and large operators alike. Production in this play peaked in 2015 and started to decline but regained attention by the end of 2018. This shale play continues to attract considerable investments aimed at developing its proved reserves. The play still contains sections that are significantly underdeveloped, especially in the northern part comprising Burleson County. Karnes, La Salle, De Witt, and Gonzales are the most prolific counties for crude oil and condensate production in the Eagle Ford play. Whereas the major natural gas-producing counties include Webb, Karnes, and La Salle.

This prolific oil-rich formation has attracted various shale players over the years. 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.

Which are the major companies operating in Eagle Ford Shale in the US?

EOG Resources has the highest leaseholds in the Eagle Ford Shale as of October 2021. The company has its acreage spread across eleven counties of Texas. It is also the largest producer of crude oil and a key natural gas producer in this play.

EOG Resources is the largest player followed by Chesapeake Energy, ConocoPhillips, China National Offshore Oil Corporation (CNOOC), SM Energy, SilverBow Resources, Marathon Oil, Murphy Oil, Penn Virginia, Devon Energy, Tokyo Gas Co., Matador Resources, Magnolia Oil & Gas, and Baytex Energy.

Major companies operating in eagle Ford Shale

Major companies operating in eagle Ford Shale

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Market report scope

Base year for estimation 2020
Forecast Year 2021-2025
Companies Mentioned EOG Resources, Chesapeake Energy, ConocoPhillips, China National Offshore Oil Corporation (CNOOC), SM Energy, SilverBow Resources, Marathon Oil, Murphy Oil, Penn Virginia, Devon Energy, Tokyo Gas Co., Matador Resources, Magnolia Oil & Gas, and Baytex Energy.

The report analyses crude oil and natural gas appraisal and production activities in the Eagle Ford shale in the US. The scope of the report includes:

  • Comprehensive analysis of crude oil and natural gas historical production and outlook during 2018-25.
  • Detailed information of impact on well development, permits and deals against the backdrop of the COVID-19 pandemic.
  • In-depth information of well productivity and well completion parameters across the Eagle Ford shale.
  • Analysis of net acreage of top companies, planned capital expenditure as well as crude oil and natural gas reserves and production stats in this shale play.
  • Up-to-date information on major mergers and acquisitions across the Eagle Ford shale from 2019 to 2021.

Reasons to Buy

  • Develop business strategies with the help of specific insights into the Eagle Ford shale in the US.
  • Plan your strategies based on economic viability and expected developments in the Eagle Ford shale.
  • Keep yourself informed of the latest M&A activity across the Eagle Ford shale.
  • Identify opportunities and challenges across the Eagle Ford shale.

Table of Contents

Table of Contents

1. Overview 6

1.1 Eagle Ford Shale, Recent Developments and Trends 6

2. Eagle Ford Shale, Introduction 8

2.1 Eagle Ford Shale, Formation Overview 8

3. Eagle Ford Shale, Production and Activity Overview 9

3.1 Eagle Ford Shale, Production Analysis, 2018-2020 9

3.2 Eagle Ford Shale, Production Outlook, 2021-2025 12

3.3 Eagle Ford Shale, Drilling Activity 13

3.4 Well profile 16

4. Eagle Ford Shale, Competitive Benchmarking 18

4.1 Eagle Ford Shale, Major Companies with Prominent Presence, 2021 18

4.2 Eagle Ford Shale, Financial Standings of Major Companies 20

4.3 Eagle Ford Shale, Operational Performance of Leading Operators 21

4.4 Eagle Ford Shale, Completion Parameters, 2019-21 23

4.5 Eagle Ford Shale, Plans of Major Companies 27

4.6 Eagle Ford Shale, Cost Trends, September 2021 28

5. Eagle Ford Shale, Associated Infrastructure 29

5.1 Pipelines 29

6. Mergers and Acquisition Activity in the Eagle Ford Shale, 2019-2021 32

6.1 Overview of M&A Activity 32

6.2 Major Acquisitions 32

7. Eagle Ford Shale, Analysis of Major Companies 34

7.1 Chesapeake Energy 34

7.2 ConocoPhillips 34

7.3 EOG Resources 34

7.4 Marathon Oil Corporation 34

7.5 SM Energy 35

7.6 Repsol SA 35

7.7 Sanchez Energy Corporation 35

7.8 CNOOC Limited 35

7.9 Magnolia Oil & Gas Corporation 36

8. Appendix 37

8.1 Abbreviations 37

8.2 Methodology 37

| Contact Us 38

List of Tables

List of Tables

Table 1: Eagle Ford Shale, Crude Oil and Natural Gas Production, 2018-2020 9

Table 2: Eagle Ford Shale, Net Acreage by Company, 2021 18

Table 3: Eagle Ford Shale, Reserves and Production by Major Companies, 2020 – 2021* 19

Table 4: Eagle Ford Shale, Financial Standings of Major Companies, Q2 2021 20

Table 5: Eagle Ford Shale, Operational Performance of Leading Operators, January 2020 – March 2021 21

Table 6: Eagle Ford Shale, Planned Capital Expenditure by Major Companies, 2020-21 (US$ million) 27

Table 7: Eagle Ford Shale, Reserves and Production by Major Companies, 2020 30

Table 8: Eagle Ford Shale, Major Deals by Oil and Gas Companies, 2019-21 33

List of Figures

List of Figures

Figure 1: Total Production in Eagle Ford Shale, 2018-2021 6

Figure 2: Rig count in Eagle Ford Shale, and West Texas Intermediate (WTI) future prices, 2019-2021 7

Figure 3: Eagle Ford Shale, Crude Oil and Condensate Production by County (mbd), 2018-2020 10

Figure 4: Eagle Ford Shale, Natural Gas Production by County (mmcfd), 2018-2020 11

Figure 5: Eagle Ford Shale, Production Outlook, 2021 – 2025 12

Figure 6: Eagle Ford Shale, Number of Well Permits by County, January 2019 to September 2021 14

Figure 7: Eagle Ford Shale, Well Permits by Key Operators, January 2019 to September 2021 15

Figure 8: Eagle Ford Shale, Well Profile for Crude Oil Production 16

Figure 9: Eagle Ford Shale, Well Profile for Natural Gas Production 17

Figure 10: Eagle Ford Shale, Proppant Mass (million lbs.) vs Lateral Length (ft) 23

Figure 11: Eagle Ford Shale, Average Peak Crude Oil Production vs Lateral Length (ft) Quartile 24

Figure 12: Eagle Ford Shale, Peak Total Production vs Lateral Length, 2019-2021 25

Figure 13: Eagle Ford Shale, Total EUR vs Lateral Length, 2019-2021 26

Figure 14: Eagle Ford Shale, Major Companies by Well Costs (US$ mil), September 2021 28

Figure 15: Eagle Ford Shale, Major Active Crude Oil and Natural Gas Pipelines by Capacity, September 2021 29

Frequently Asked Questions

According to GlobalData, crude oil and condensate production in the Eagle Ford Shale in the US was 1,121.3 mbd in 2020 and natural gas production was 6,187.3 mmcfd during the same period.

EOG Resources is the largest player followed by Chesapeake Energy, ConocoPhillips, China National Offshore Oil Corporation (CNOOC), SM Energy, SilverBow Resources, Marathon Oil, Murphy Oil, Penn Virginia, Devon Energy, Tokyo Gas Co., Matador Resources, Magnolia Oil & Gas, and Baytex Energy.

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