Eagle Ford Shale production surpasses analysts' forecasts

http://www.caller.com/ ^ | March 2, 2012 at 1:12 p.m. | Mike D. Smith

[SouthTexas]

SAN ANTONIO — Eagle Ford Shale production continues to outdo analysts' projections and should continue "a very exponential rise," a researcher said.

[SouthTexas]

Drilling has begun in earnest atop the formation, which lies several thousand feet underground and stretches for 400 miles beneath 24 counties in South and Central Texas.

Producers drilled 21.8 million barrels of oil in 2011, more than twice the admittedly conservative predicted amount of about 8.6 million, said Thomas Tunstall, director of the Center for Community and Business Research at the University of Texas at San Antonio.

[SouthTexas]

Mash

[spokeshave]

Yeah....and they only started in earnest drilling 4 YEARS AGO.....already supports over 12,000 high pay jobs....

Drill Baby Drill 24/7/365

[MulberryDraw]

Somebody is hiring a bunch of oil workers here in the Texas Panhandle now too.

[tubebender]

Will Natural Gas prices come down or is production to costly. PG&E built a new generating facility here on Humboldt Bay a couple of years ago large enough to supply this region.

[stboz]

Watch the Niobrara Shale, too.

[Sherman Logan]

Gas prices have come down something like 40% in the last few years.

At some point the decline is likely to stop as cost of drilling new wells exceeds the likely ROI from them when producing.

[SouthTexas]

Gas prices are already too low to promote more production.

They’re after oil and ‘condensate’ at present and capping off the gas (I guess). Haven’t seen an abundance of flares, but then , I’m not driving out west after dark either. ;)

[SouthTexas]

Where is that?

Talked to a friend last week that said they have two more a little deeper and a tad further south.

[Rebelbase]

One EFS producer is experimenting with 50 acre per well spacing, which greatly increases production potential.

[stboz]

NE Colorado, adjoining Kansas and Nebraska. Could be another Bakken.

[Steely Tom]

Drilling has begun in earnest atop the formation, which lies several thousand feet underground and stretches for 400 miles beneath 24 counties in South and Central Texas.

Whoa!