All eyes are on the recently discovered gas shales fields in North America – including the vast Eagle Ford discovery.
An investors view on the industry:
http://www.stansberryresearch.com/pro/1102PSTS39VD/PPSTM305/PR
Texas’ Eagle Ford oil field on the southern prairie is boosting energy-
tax revenue in the biggest oil-producing state, generating $40 million for the state budget last year.
“This is a great addition to the state’s reserves,” said Dominique Halaby, who directs the University of Texas at San Antonio’s Community and Business Research Center. Halaby, who has studied the field’s economic effects, said it might yield another $800 million in state receipts. “It’s a game-changer.”
The Eagle Ford Shale play is located primarily in 24 counties of southern Texas. It is one of the most active regions for oil and gas E&P in the United States. The Eagle Ford contains a high percentage of carbonate shale – upwards to 70% in south Texas.
http://seekingalpha.com/article/257877-major-players-in-the-eagle-ford-shale
The booming oil and natural gas industry along the Eagle Ford shale formation also injected revenue into the annual Cuero Livestock Show.
Development of the Eagle Ford shale, a vast oil and gas region, shows promise of being the most important economic generator South Texas has ever seen, a recently released study indicates.
http://www.chron.com/disp/story.mpl/business/energy/7467068.html
….and the yields of Eagle Ford are part of the reason production of natural gas in Texas — the leading gas-drilling state — is projected to keep rising.
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 Commission Website:
OGJ Pipeline Editor
HOUSTON, Mar. 2 — Kinder Morgan Energy Partners LP (KMEP) and Watco Cos. LLC will build and operate several rail facilities in key markets for loading and unloading crude oil, along with other commodities and products tied to the oil and gas industry.
(Reuters) – Magellan Midstream Partners (MMP.N) said on Thursday it is developing a new 180,000 barrels-per-day (bpd) pipeline that will carry Eagle Ford crude oil and condensate from LaSalle and Live Oak County in Texas to Corpus Christi, Texas.
http://www.reuters.com/article/2011/03/03/magellan-pipeline-idUSN0312725620110303
NEW YORK, Feb 17 (Reuters) – Flint Hills Resources said on Thursday it was buying a Texas oil terminal that would supply 200,000 barrels per day of crude and condensate from the South Texas Eagle Ford play to U.S. Gulf Coast refineries.
http://af.reuters.com/article/energyOilNews/idAFN1715645620110217