Eagle Ford

Eagle Ford Shale Description ImageThe Eagle Ford shale formation in South Texas runs from the US-Mexico border north of Laredo in a narrow band extending northeast for several hundred miles to just north of Houston. It is located directly below the Austin Chalk. The average thickness of the Eagle Ford shale is about 475 feet. The more active part of the region is mainly in McMullen, Maverick, Dimmit, La Salle, Karnes, Live Oak, and Atascosa counties. The formation produces both natural gas and oil, but it is the oil-producing and gas condensate areas that are hottest right now.

Houston-based Apache Corp. and EOG Resources are two of the largest lease-holders in the Eagle Ford. Other major players include Petrohawk, Swift Energy, ExxonMobil, ConocoPhillips, Murphy Oil, Chesapeake, Cabot Oil & Gas, and Pioneer Natural Resources.

Eagle Ford Shale Map

Eagle Ford Shale News

EIA: Eagle Ford, Bakken oil production to fall in April

Mar 10, 2015

US shale oil production is expected to increase by a mere 1,000 b/d from March to April, according to the Energy Information Administration’s Drilling Productivity Report (DPR), signifying a slowdown in growth caused by reduced company budgets and a shrinking rig count.

Encana trims additional $700 million from 2015 capital budget

Mar 6, 2015

Encana Corp. is reducing its previously reported capital investment for 2015 by $700 million to $2-2.2 billion "to maintain a solid balance sheet and help strengthen liquidity through a low price environment."

BHI: US rig count plunges 75 units to lowest total since 2009

Mar 6, 2015

The US drilling rig count plunged 75 units—all on land—to settle at 1,192 rigs working during the week ended Mar. 6, according to data from Baker Hughes Inc.

Anadarko cuts spending, stalls well completions

Mar 3, 2015

Anadarko Petroleum Corp. on Mar. 3 said it will cut spending 33% during 2015 compared with 2014 and will reduce drilling and defer 125 onshore well completions in response to low oil prices.

Chesapeake’s $4-4.5 billion capex down 37% vs. last year

Feb 25, 2015

Chesapeake Energy Corp., Oklahoma City, is budgeting total capital expenditures, including capitalized interest, of $4-4.5 billion for 2015.

Encana trims additional $700 million from 2015 capital budget

Feb 25, 2015

Encana Corp. is reducing its previously reported capital investment for 2015 by $700 million to $2-2.2 billion “to maintain a solid balance sheet and help strengthen liquidity through a low price environment.”

EOG Resources’ budget down 40% to $4.9-5.1 billion

Feb 20, 2015

EOG Resources Inc., Houston, plans a capital budget of $4.9-5.1 billion in 2015 including production facilities and midstream expenditures, representing a 40% reduction compared with last year’s budget.

BHI’s rig count reaches 5-year low; forecast projects more losses

Feb 20, 2015

The US drilling rig count fell 48 units—markedly fewer compared with declines in recent weeks—to settle at 1,310 rigs working during the week ended Feb. 20, Baker Hughes Inc. reported.

Marathon revises down budget by 20%

Feb 19, 2015

Marathon Oil Corp., Houston, has reduced its capital, investment, and exploration budget for 2015 by another 20% to $3.5 billion.

Devon reduces capital budget by 20% in 2015

Feb 17, 2015

Devon Energy Corp., Oklahoma City, plans an exploration and production capital budget of $4.1-4.4 billion in 2015, representing a 20% decline compared with 2014.

Phillips 66 Partners to buy pipeline systems’ interests for $1 billion

Feb 16, 2015

Phillips 66 Partners LP has reached agreement with Phillips 66 to acquire Phillips 66’s interests in three pipeline systems for a total of $1.01 billion.

Apache’s 2015 capital budget less than half of last year’s $8.5 billion

Feb 12, 2015

Apache Corp., Houston, plans a capital budget of $3.6-4 billion in 2015, with $2.1-2.3 billion directed toward onshore North America and $1.5-1.7 billion for international and offshore.

PNR cuts capital spending nearly in half

Feb 11, 2015

Pioneer Natural Resources Co. (PNR), Dallas, plans to spend $1.85 billion in 2015 following a fourth quarter in which the company reported a net income of $431 million. The new budget represents a 45% reduction from 2014 capital spending for continuing operations, a change attributed to low oil prices.

EIA: US gasoline prices to average $1/gal less in 2015 vs. 2014

Feb 10, 2015

US regular gasoline retail prices are expected to average $2.33/gal in 2015, down from $3.36/gal in 2014, according to the Energy Information Administration’s (EIA) latest Short Term Energy Outlook (STEO).

WoodMac: Eagle Ford production tops 1 billion bbl

Feb 10, 2015

Analysts forecast increasing unconventional US production during 2015 with one of the prolific plays being the Eagle Ford shale in South Texas.

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