The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The Eagle Ford shale experienced one of the most drastic drops in rig count due to the Covid-19 pandemic and related crisis. The rig count in this play peaked at 81 rigs in February 2020 before dropping to as low as 10 rigs at present. This has resulted in a sharp decline in total production from 2.55 million barrels of oil equivalent per day (mmboed) in March 2020 to 2.02 mmboed in October 2020.
With oil futures averaging US$41.98 per barrel (bbl) for the first half of 2021, GlobalData forecasts that there may not be an uptick in oil activity in the Eagle Ford over the short term. The short-term outlook for crude oil remains uncertain due to the rising level of COVID-19 cases that will dampen economic activity, as well as the higher than average global oil inventory that will restrict the upward pressure on oil price. On the other hand, natural gas futures for the first half of 2021 average US$2.95 per thousand cubic feet (mcf), which could spark some natural gas production activity in the Eagle Ford and Austin Chalk formations.
The report analyzes the crude oil and natural gas appraisal and production activities in Eagle Ford shale play in the US. The scope of the report includes -
- Comprehensive analysis of crude oil and natural gas historical production and short term outlook of Eagle Ford shale play during 2019-2021
- Detailed information on impact of COVID-19 pandemic on well development, permits and deals in this play
- In-depth information on net acreage, operational performance and financial standings of major operators in the Eagle Ford shale play
- Analysis of top companies’ future plans and cost trends in 2020
- Up-to-date information on associated infrastructure and major mergers and acquisitions In the Eagle Ford shale play between 2018 and 2020
Reasons To Buy
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