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
What is the Eagle Ford Shale?
The Eagle Ford Shale is a hydrocarbon producing formation of significant importance due to its capability of producing both gas and more oil than other traditional shale plays. It contains a much higher carbonate shale percentage, upwards to 70% in south Texas, and becomes shallower and the shale content increases as it moves to the northwest. The high percentage of carbonate makes it more brittle and “fracable”. The shale play trends across Texas from the Mexican border up into East Texas, roughly 50 miles wide and 400 miles long with an average thickness of 250 feet. It is Cretaceous in age resting between the Austin Chalk and the Buda Lime at a depth of approximately 4,000 to 12,000 feet. It is the source rock for the Austin Chalk and the giant East Texas Field. The name has often been misspelled as “Eagleford”. A great picture can be found at the Energy Information Administration (EIA)http://www.eia.gov/oil_gas/rpd/shaleusa9.pdf which shows the structural contours and windows for the oil, wet gas/condensate and dry gas.
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
Eagle Ford Oil Permites – Gas Permits from the Texas Railroad Commission
Click to enlarge
Texas is in a severe drought and limited water supplies threaten producers in Eagle Ford Shale.
By: Houston (Platts)–14Jun2011/618 pm EDT/2218 GMT
http://www.platts.com/RSSFeedDetailedNews/RSSFeed/NaturalGas/6188971
To raise capacity of Tilden treating facility by 20 MMcf/d (Follows Alerts)
(Reuters) – Natural gas services provder Regency Energy Partners LP said it will spend about $450 million to build facilities for providing gas and condensate gathering services for a producer in the Eagle Ford shale of Texas.
http://www.reuters.com/article/2011/06/02/regencyenergypartners-idUSL3E7H21UU20110602