Noble Energy plans to spend USD 2.3 billion-2.6 billion in 2017, up from the USD 1.3 billion it reportedly spent in 2016. The company said in a statement that 75% of…
READ MOREEagle Ford's oil and gas industry
Eagle Ford In Figures
Oil Production1.44 million bopd
Gas Production77.8 bcm
Eagleford: Hydrocarbons renaissance
Eagle Ford’s oil and gas industry has continued to rise in importance since 2008 when it became the world’s most active shale play, transforming the US’s position in the global energy mix. Since then, production has grown significantly. Eagle Ford accounts for a large share of Texas’ production along with producing fields on the state’s Permian Basin. Texas is the top oil and gas producer in the US, traditionally accounting for just under half of its oil production and a quarter of its natural gas production. The state is also the US’ highest consumer of petroleum products, with its industrial sector taking the lion’s share.
The Eagle Ford shale formation is located in Texas and forms an arc from the Mexican border to around 640 kilometres northeast of Houston and Austin. The 51,800-square-kilometre play is divided into three windows, with the northern section containing mostly crude oil, the central section containing mostly gas liquids such as ethane, propane and butane, and the southern section holding mostly natural gas deposits.
The region has attracted many E&P operators taking advantage of opportunities, with the largest players on the Eagle Ford formation being EOG Resources, ConocoPhillips, Marathon Oil, Chesapeake Energy and China National Offshore Oil Corporation. Players have taken advantage of new horizontal drilling technologies to tap previously untouched plays, with more recoverable resources still untapped in the region.
Production from the Eagle Ford basin has given rise to the US’ largest cluster of oil refineries, predominantly located in ports along the coast of the Gulf of Mexico, consisting of around a quarter of the nation’s oil refining capacity. Gas production has also seen a huge rise in LNG terminals in Texas, accounting for more than half of the country’s LNG export capacity and rising. Despite being a net LNG importer in the past, a large rise in LNG production has seen the US join the ranks as a top global LNG exporter along with Qatar and Australia.
Alongside its coastal marine exports, Texas also boasts a considerable gas pipeline network that pumps the resource across the state, into Mexico and towards the rest of the US. While gas enters Texas’ pipeline system from other states, a larger part of gas is exported, with almost three times more natural gas departing the state than entering.
Eagle Ford Articles and News
Chesapeake Energy Corporation has signed an agreement to acquire Southwestern Energy for USD 7.4 billion, the US oil and gas…
READ MOREKinder Morgan has decided to acquire NextEra Energy’s pipeline network in South Texas, USA, for USD 1.8 billion, the US…
READ MOREChesapeake Energy Corporation has entered preliminary talks with Southwestern Energy to discuss the possibility of a USD 12-billion acquisition that could create the…
READ MOREChesapeake Energy has agreed to sell its remaining Eagle Ford assets to SilverBow Resources for USD 700 million, the US E&P company announced on Monday.
The sale…
READ MOREINEOS Energy has entered America’s upstream Eagle Ford shale market through a USD 1.4-billion acquisition, the British energy company announced on Tuesday.
The deal…
READ MOREReliance Industries has announced the sale of its Eagle Ford shale plays to Ensign Operating III, the Indian multinational announced on Monday.
The acquired…
READ MOREAnadarko Petroleum released its fourth-quarter results late on Tuesday, announcing a boost in sales and reduction in losses compared with the same period a year…
READ MOREUS independents Hess Corporation and Murphy Oil announced fourth-quarter losses on Wednesday, yet remain optimistic about the new year.
Arkansas-based driller Murphy…
READ MOREAnadarko Petroleum on Wednesday announced it would sell Marcellus Shale acreage, with plans to shed Eagle Ford assets in the making.
In a deal valued at USD 1.24…
READ MORETOGY talks to Fernando Meiter, associate consultant at Gas Energy Latin America, about the concerns of foreign companies looking to invest in Argentina and the regional…
READ MOREThe Permian basin’s Wolfcamp Shale is estimated to hold continuous oil in place reserves of more than 20 billion barrels, a new estimate released by the U.S.…
READ MOREAustralian independent Woodside Energy signed a non-binding project development agreement with the LNG division of the US’ Sempra Energy on Friday that will see the…
READ MORETrican Well Service sold its entire US-based pressure pumping business to the US’ Keane Group, the Canadian company announced on Tuesday.
The USD 285 million deal…
READ MOREAWE Limited will sell off its US shale projects, the Australian energy company announced today.
In an agreement reached with US independent Carrier Energy Partners,…
READ MOREEmpyrean Energy will divest from the Sugarloaf AMI, the US exploration and production company announced Tuesday.
The company has entered into a conditional agreement…
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