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Texas Shale Oil and Gas Abundance

Home to more than 260 of those active drilling rigs, the Eagle Ford continues to amaze analysts with the rapid nature of its growth. March 2013 daily oil production from the play grew to more than 529,000 barrels, a 77% increase from just one year earlier. Scott Hanold, an analyst for RBC Capital Markets, told his clients that “While the trend is correct, we believe actual production in the Eagle Ford is higher than what is being reported.”

RBC’s proprietary database reportedly pegs Eagle Ford’s oil production as high as 800,000 barrels per day, in basically the same range as North Dakota’s Bakken Shale. Regardless of which number is more accurate, there is no question that Eagle Ford will overtake the Bakken in the next several months to become the largest oil producing field in the U.S.

Read the rest of the article, "Texas's Amazing Shale Oil And Gas Abundance," published July 5, 2013 in Forbes.com.

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