New Eagle Ford Well Map from the TX RRC - July 2012

Eagle Ford Shale Well Map - July 2012

The Texas RRC updated its Eagle Ford Shale well map with the most recent reported data through July 3, 2012.

Since May 14 when the RRC last updated the data points on its map, the commission has issued 367 permits. That's more than 7 permits per day over a period of 50 days.

A total of 2,400 wells had been reported producing as of July 3. That's 314 more oil wells and 107 more gas wells than we had as of May 14. If you're counting, that's a pace of more than 8 wells coming online per day.

Data from the RRC is always a little delayed, so we're likely on pace to surpass 3,000 producing wells by the end of August or early September.

Updated Texas Railroad Commission Map of the Eagle Ford Shale

Eagle Ford Shale Well Map

The Railroad Commission released an updated well map in May. Since the March 15, 2012 version, the number of gas wells on schedule has only grown by 25, but the number of oil wells on schedule has surged by 422 to 1,376.

We're close to having 2,000 producing wells on record. Take into account the delays in reporting and we're likely well past 2,000.

The number of permits issued in the play jumped 381 to more than 4,000 over the past two months as well.

We're running at a blistering pace. 400+ oil wells in two short months is a substantial feat and with ~250 rigs running, we'll likely replicate the growth of the past two months many times over.

The increased pace of drilling and permitting is exactly why we're seeing higher future production estimates almost weekly.