Eagle Ford Production Watch

0
181

Eagle Ford Production Watch

Double Whammy: State Data Shows Large M/M Decline & EIA Restates DPR Figures

What’s The Event?

According to the latest data from the Texas RRC, Eagle Ford liquids production was
down ~120 MBbl/d M/M and ~290 MBbl/d Y/Y in July. This leaves Eagle Ford production
exiting the month at ~920 MBbl/d, according to Texas State data. Further, after six
months of ongoing upward production revisions within the EIA’s monthly DPR over
H1/17, the agency reported a significant downward revision in both its historical and
forecasted Eagle Ford production figures this month in the DPR.
We believe the reduction in the estimates echoes downward revisions the EIA has made
in its September edition of the STEO following a dichotomy in weekly and monthly data
and further reiterates that U.S. oil production is not growing at the rates that much of the market believed it would.