LONDON, Sept. 23, 2015 /PRNewswire/ — 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
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