Category: Eagle Ford News

NEW YORK, Oct 27 (Reuters) – Kirby Corp , the largest U.S. inland barge operator, said on Thursday it continues to see strong demand for inland barges carrying crude oil to refineries, as production from the Eagle Ford shale formation and other regions continues to grow.

Between 140 and 150 barges industrywide are currently carrying crude oil, more than 10 times the number in operation ten years ago, Joe Pyne, Kirby’s chairman and chief executive officer told analysts during the company’s third-quarter conference call on Thursday.

“We used to be able to count on less than two hands the number of crude barges,” said Joe Pyne, head of Kirby.

“The movement is mostly downriver movement of Canadian crude oil through Baton Rouge refineries.

Exxon Mobil Corp. operates a large, 503,000 barrel per day refinery in Baton Rouge, Louisiana. It is located north of several large Louisiana refineries including those owned by ConocoPhillips and Marathon oil.

Source: http://www.reuters.com/article/2011/10/27/kirby-crude-barges-idUSN1E79Q1HY20111027

The Texas Railroad Commission-led Eagle Ford Task Force has adopted several advisements related to truck traffic and pipeline development in the region. The rapid increase in truck traffic on local roads in the Eagle Ford shale region has led to concerns regarding the deterioration of roads and hazards to public safety. Pipeline infrastructure also was on the task force agenda. Several billion dollars worth of pipeline projects are under development in the region, and local communities have expressed concern with how the development of these massive projects will affect them. “The construction of a 20-in. crude oil line running 50 miles through a county can take the place of 1,250 ta…

Source:  http://www.ogj.com/articles/print/volume-109/issue-44/general-interest/texas-railroad-commission-sets.html

….The total impact is expected to be $13.9 billion this year and increase to $48 billion in 2020. By comparison, the annual GDP of the three county Corpus Christi metropolitan area is about $15 billion….

Source:  Corpus Christi Caller Times

http://www.caller.com/news/2011/sep/27/coastal-bend-businesses-should-take-advantage-of/

Roads in small communities are taking a beating from oil field truck traffic. There’s a housing shortage. And billions of dollars in new pipelines will crisscross the oil and gas play, an eminent domain issue that inevitably will make some private landowners unhappy.

Source: Houston chronicle

http://www.chron.com/business/article/Eagle-Ford-boom-brings-tricky-problems-2195719.php

From CBS News:  …Energy companies are rushing to the area to tap deposits that could produce up to 12 billion barrels of oil, and enough natural gas to power every American household for at least five years.

http://www.cbsnews.com/stories/2011/09/15/eveningnews/main20107020.shtml

A few weeks back CNBC sent anchor and Mad Money host Jim Cramer up to the Bakken shale to get an on the ground view of the amazing changes taking place in the area. North Dakota is booming with an overwhelming demand for employees. The companies leading the drilling efforts such as Continental Resources (CLR) and Brigham Exploration (BEXP) have benefited handsomely from the massive growth in that area.

Though known by many industry experts and investors, another area exists in southern Texas that might match or exceed the oil produced from the Bakken. That area is called the Eagle Ford Shale.

Read more:

Source: http://seekingalpha.com/article/292957-2-eagle-ford-shale-plays-not-closely-followed

Texas Railroad Commissioner reaffirms Eagle Ford as “the single most economic development in our state’s history” during Texas Alliance of Drilling Producers luncheon.

Texas Railroad Commissioner David porter announces plans to form Eagle Ford Task Force.

“Texas continues to set the tone for the nation on oil and gas policy,” Porter said. “I am pleased to stand up here and say something everyone in this room already knows… that things are looking good here in South Texas.”

http://www.gonzalesinquirer.com/news/article_7cc0584e-b228-11e0-a798-001cc4c03286.html

Japan’s JGC Corp said on Monday it has signed an agreement to buy 10 percent of the Eagle Ford shale oil assets in south Texas from TriTech I LLC for $65 million.

http://www.reuters.com/article/2011/06/20/shale-oil-jgc-idUSL3E7HK17L20110620

Advances in drilling technology have energized the domestic energy industry. Hydraulic fracturing, or fracking, has unlocked oil and natural gas deposits in deep shale formations across the country, including in South Texas’ Eagle Ford.

From My San Antonio:

http://www.mysanantonio.com/news/article/Keep-fracking-on-track-and-safe-1429267.php