New drilling, production in Eagle Ford surges
Drilling in the Eagle Ford shale has dramatically increased in 2012, as producers have frantically turned away from cheap natural gas to production from regions that yield higher priced oils and other liquids.
The number of new wells drilled in Texas’ Eagle Ford shale more than doubled during the first three months of 2012, compared with the same period a year ago, according to Bentek Energy.
Operators started 856 new wells in the first quarter of 2012, compared with 407 in the same period a year ago, the energy market analysis firm reported.
There was also a record high number of 217 rigs active in the Eagle Ford during this month.
The increase in activity ratcheted up production of oil and other liquids, from 182,000-barrels-a-day in April 2011 to more than 500,000-barrels-a-day this month, according to Bentek’s analysis, which the U.S. Energy Information Administration highlighted on its website.
The Eagle Ford currently produces about 2 billion cubic feet of natural gas per day.
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Posted on April 24, 2012, in AMERICAS, Area, Eagle Ford Shale, Energy, GEOGRAPHIC, Natural Gas, North America, Oil, Oil & Gas - inland, Shale Gas, Shale Oil, South Texas, Texas, United States and tagged Bakken, Bakken Formation, Drilling, Eagle Ford, Eagle Ford Formation, Eagle Ford Shale, Montana, Natural Gas, North Dakota, Texas. Bookmark the permalink. Comments Off on New drilling, production in Eagle Ford surges.