WoodMac estimates Eagle Ford shale production tops 1 billion bbl

The Eagle Ford shale in South Texas has produced more than 1 billion bbl of crude oil and condensate, energy consultant Wood Mackenzie Ltd. estimated, adding that the Eagle Ford has produced more than 70% of that total during the last 2 years.

WoodMac forecasts the Eagle Ford will produce 2.8 million boe/d in 2015. Analysts forecast capital expenditure of $30.8 billion for the Eagle Ford shale during 2015 compared with WoodMac’s forecast for $16.7 billion to be spent on the Bakken formation in North Dakota and Montana next year.

Analysts said the Eagle Ford currently accounts for 16% of US oil production. More than half of the Eagle Ford’s production comes from 10% of its 20,000 sq miles, WoodMac said.

WoodMac said the Eagle Ford play was the third-fastest to have produced 1 billion bbl, trailing the Alaska North Slope and the Ghawar field in Saudi Arabia. Production contributing to the Eagle Ford 1-billion-bbl mark started in 2008, WoodMac said.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...