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Eagle Ford Minute Dec 19

Eagle Ford Minute for December 19
by Randy Watson Email Randy

fallingOil prices have plummeted 40% in the last six months, and that’s putting the kibosh on some new drilling across North American shale plays.

According to DrillingInfo.com, applications for new drilling permits in South Texas’ Eagle Ford Shale and North Dakota’s and Montana’s Bakken Shale fell approximately 30% in November of 2014 compared to the previous month. However, the Texas Railroad Commission reports a whopping 4,891 new drilling and re-enter permits in the Eagle Ford from Jan. – Oct. of this year, already surpassing the total for new drilling and re-enter permits in 2013 of 4,416.

The rig count in the Eagle Ford Shale has not dropped off yet, staying between roughly 260 – 270 rigs running across EagleFordShale.com’s 30-county coverage area per week since June of 2014. Read more

Hydraulic fracturing in the Eagle Ford Shale is adding water stress to a region where aquifers already are being overdrawn, according to a new report from the Mosbacher Institute at Texas A&M University. The report, released this week, looks at water use in the 26-county Eagle Ford. Fresh groundwater aquifers are overdrawn in the Eagle Ford by about 200,000 acre feet per year, or 2.5 times their recharge rate, according to the report. Read More

Oil prices have taken a dive, but production in the Eagle Ford Shale in South Texas – and other shale oil basins – will keep climbing in January. At least according to the U.S. Energy Information Administration. The Eagle Ford is likely to produce 1.685 million barrels daily of crude oil and the light oil known as condensate, according to the latest EIA report. It would be a gain of around 30,000 daily barrels over December production for the field. Read More

For more details visit nobullradio.com … This is Randy Watson at the 1280 KMFR Pearsall Studio of the No Bull Radio Network reporting the Eagle Ford Minute.

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Updated: December 19, 2014 — 8:52 am

1 Comment

  1. Stop playing the same news every 15 minutes!!! And stop interrupting songs at breaks too.

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