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.
Wednesday, July 23, 2014
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