The map above shows the large Eagle Ford Shale area, which is 50 miles wide and 400 miles long, and covers 23 counties in South-Central Texas, according to the Railroad Commission of Texas – the state agency that regulates the oil and gas industry in the Lone Star State. The first Eagle Ford Shale well was drilled in 2008, and the chart above shows the explosive growth in Eagle Ford oil production since then, which has increased to roughly 327,000 barrels per day this year, far more than double the output in 2011. The recently-discovered oceans of hydrocarbon-saturated shale rock below the Eagle Ford Shale area of Texas (including dozens of “monster wells”) are the main reason for the explosive growth in crude oil production in the Lone Star State – which has doubled in just the last few years to more than two million barrels per day, see CD post here.
2 thoughts on “Texas Eagle Ford Shale map and oil production chart”
Leave a Reply
Also of Interest
-
Gas tax on mileage shatters right to privacy
read more
Shifting to a Vehicle Miles Traveled tax system serves neither the interests of good government nor the interests of personal privacy.
Read more here: http://www.kansascity.com/2013/05/02/4213891/gas-tax-on-mileage-shatters-right.html#storylink=cpy -
Bidens are becoming more charitable over time – they used to give less to charity than Americans making less than $5,000
read more
The Obamas and the Bidens released their 2012 tax returns on the White House blog today.Now that Biden’s tax returns are coming under public scrutiny, he and Dr. Jill Biden seem to be feeling a bit more charitable than the former, rather uncharitable Senator Joe Biden, whose tax returns probably received little attention, if they were even released at all.
-
America's oil and gas revolution
read more
To grasp the importance of the revolutionary change in oil and gas drilling sweeping across the United States -- and its significance for our economy -- just consider how far behind the rest of the world is lagging.
Gotta love it…drill baby, drill.
This was the same type of hype that we heard about the Barnett Shale formation. As drilling exploded so did production and everyone was telling us about a new era in hydrocarbon production. The problem was that the era was dependent on ultimate production estimates that did not come true. As a result of the optimistic assumptions the companies were able to write off their investments over a much longer time period than they should have and the reported losses were far lower than they actually turned out to be. The same thing is happening in other formations as drilling activity means an explosion in production but not real profits for the shale companies that are producing the oil and gas. Eventually the undepreciated assets will have to be written off and the profits will have to be restated to reflect what we have seen on the balance sheet and cash flow statements. When that happens Mark will try to claim that he was only reporting facts as provided by the EIA, TRC, and other institutions but will have a hard time explaining why as an economics professor he stayed away from what he should know best; the actual economics of production.