Eagleford: Hydrocarbons renaissance

Since 2008, the Eagle Ford, Texas has become the world’s most active shale play and with the Bakken, Marcellus, Utica, Niobrara and Permian shales has transformed the US’s place in the global energy matrix.

The Lone Star state is estimated to have total reserves of 7 billion-10 billion barrels of oil. With more than 250 oilrigs, Texas has one of the largest concentrations of rigs in the country. As of January 2013, the 27 petroleum refineries in Texas had a capacity of more than 5.1 million barrels of crude oil per day and accounted for almost 29 percent of total US refining capacity.

Yet high costs have prompted many firms, such as super-major Shell, to pull out of the shale play completely.

Nonetheless, Eagle Ford is politically and economically placed to contribute to the bright future of US energy production. Thanks to its shale boom, the US could become the world’s biggest oil producer by 2020 and achieve hydrocarbon self-sufficiency by 2035.