New research from the University of Texas reveals there are still billions of barrels waiting to be drilled in the Eagle Ford.
- The play holds an estimated 230 billion barrels of oil (only 10 billion can be recovered now)
- The play has an estimated 462 trillion cubic feet of natural gas, with 34 trillion cubic feet recoverable.
- At least 80,000 more wells will be drilled
Currently, activity in the Eagle Ford has slowed. The Texas Railroad Commission (RRC) reported this week that from January-August, they issued 4,830 original drilling permits throughout the state of Texas. 642 of those permits are for operations in the Eagle Ford Shale. Eight months into the year and the numbers don’t look good. If the trend continues, the Eagle Ford will have fewer permits issued by the end of the year since before 2010.