US petrol production is expected to hit record highs in 2015, as refiners stem overflowing storage resulting from the biggest national crude glut in more than 80…
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 MOREOil services company Frank’s International will acquire Timco Services for $75 million in cash.
The deal between the US companies was revealed in a filing with the…
READ MOREOil prices fell in Asian trade on Monday, with US crude down by more than 2 percent to a six-year low, as the dollar hit new highs and global storage capacity swells.…
READ MOREAn explosion at an oil and gas field in West Texas has killed three people and injured one, according to an announcement of independent owner Parsley Energy on…
READ MOREShell has let its Walker Ridge Block 96 lease, part of its 2013 Yucatan discovery, in the US Gulf of Mexico expire, a company spokesperson told Upstream Online on…
READ MOREThe United Steelworkers (USW), the largest industrial labour union in North America, has told members to reject a seventh contract offered by Shell on behalf of…
READ MOREPhillips 66 Partners is set to purchase shares of three pipeline systems from parent company Phillips 66, totalling $1.01 billion.
The agreement involves equity…
READ MOREOn February 13, US District Judge Nanette Jolivette Brown dismissed a lawsuit filed by the Southeast Louisiana Flood Protection Authority-East (SLFPA-East) against more…
READ MOREDiscoveries of new oil and gas reserves have dropped to their lowest level in at least two decades in 2014, according to previously unpublished data from IHS, the…
READ MOREOil’s recovery from six-year lows continued on Thursday amid speculations of declining US drilling activity, with Brent trading above $60 for the first time in more…
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