| Eagle Ford’s March Gas Production Is 24% Higher Year-over-Year | |
| | |
|
March Production Rises at Key Shales, but Slowdown May Be Coming (Part 5 of 8) (Continued from Part 4) Eagle Ford shale production
The U.S. Energy Information Administration (or EIA) released its Drilling Productivity Report (or DPR) on April 13, 2015. The EIA estimates that the Eagle Ford shale in South Texas produced 7.5 billion cubic feet per day (or Bcf/d) of natural gas in March. This is 1% more than February’s production and 24.3% higher than a year ago.
Major oil and gas producers in the Eagle Ford shale include EOG Resources, Inc. (EOG), Chesapeake Energy Corporation (CHK), and Pioneer Natural Resources (PXD). PXD is 1.5% of the iShares U.S. Energy ETF (IYE). EOG is 0.28% of the SPDR S&P 500 ETF (SPY).
According to the EIA, Eagle Ford’s gas production has increased 354% in the past eight years. In March 2015, the region produced ~7.5 Bcf/d compared to 1.65 Bcf/d in March 2007.
Production per rig
The number of rigs at Eagle Ford decreased to 157 in March, from 192 in February. A year ago, there were 261 drilling rigs in the region.
From March 2007 to March 2015, natural gas production per rig has increased from 1.21 million cubic feet per day (or MMcf/d) to 1.71 MMcf/d, an increase of 41%.
However, there has been a shift from predominantly natural gas–directed rigs to liquids-directed rigs. Natural gas rigs accounted for 56% of the total Eagle Ford rigs in March 2011. Now, they’re down to 12%.
In the next part of this series, we’ll look at natural gas liquids production in the Utica Shale.
Continue to Part 6 Browse this series on Market Realist:
|
|
|
Chesapeake Energy Corporation
|
|
DEVELOPMENT STAGE |
CODE : CHK |
ISIN : US1651671075 |
|
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Chesapeake Energy is a producing company based in United states of america. Chesapeake Energy develops natural gas and oil in USA. Its main asset in development is DEEP BOSSIER in USA. Chesapeake Energy is listed in Germany and in United States of America. Its market capitalisation is US$ 79.6 billions as of today (€ 74.7 billions). Its stock quote reached its lowest recent point on March 13, 2020 at US$ 0.12, and its highest recent level on November 18, 2022 at US$ 99.94. Chesapeake Energy has 909 242 558 shares outstanding. |