E&P Magazine recently published an article with contributed content from Hart Energy Mapping & Data Services detailing steady growth in Haynesville and the Eagle Ford.
Information from the Energy Information Administration (EIA) shows that in addition to the Permian Basin in full swing, Haynesville and the Eagle Ford have seen an increase in rig count and total production.
According to the EIA, production in the Eagle Ford has climbed back to more than 1.2 MMbbl/d for the first time since early 2016, and Baker Hughes, a GE company (BHGE), reported that the Eagle Ford rig count has increased more than 83% over the past year, from 37 active rigs in 2016 to 68 by the end of September. Through late September Eagle Ford production has eclipsed 320.8 MMboe, although still far below its 2015 peak of about 584 MMbbl/d, according to the EIA. However, production in the Eagle Ford took a hit when many wells were taken offline as Hurricane Harvey impacted the Gulf Coast, and particularly south Texas, in August and September.
In the Haynesville gas production has increased 4 MMcm/d (143 MMcf/d) monthover- month, according to the EIA. In addition, BHGE reported that the Haynesville rig count also has seen a steady climb from 19 rigs in September 2016 to 45 in September of this year. Through September, the Haynesville has produced 212 Mcm/d (7.5 MMcf/d), according to the EIA.
The article briefly mentions the aftereffects of Hurricane Harvey in South Texas. In a previous blog post (link) we mentioned some efforts made during those challenging early days following the storm. We were very fortunate to have limited disruption to production in the Eagle Ford. Still, it is important to note that other businesses and organizations directly and indirectly sustained damages and losses as a result of Hurricane Harvey.
Ever resilient, the energy industry in South Texas has made a recovery from so many punches in the past few years. Seeing numbers like those above really give testament to the strength and resilience of the oil and natural gas industry.
The companies operating in the Eagle Ford are making investments in the communities and businesses surrounding them with each of their operations in the South Texas Region. Among the top producers shown in the graphs below, we see many STEER members. These companies include: EOG Resources, Chesapeake, Devon Energy, Sanchez Energy, Marathon Oil. ConocoPhillips, SM Energy, XTO Energy, Pioneer Natural Resources, Murphy Oil, EP Energy, Encana, BHP Billiton, Statoil, and Enervest.