Initial estimates have been consistently revised by 40,000 to 50,000 b/d over the past six months, so we believe actual oil production was more than 420,000 b/d. That represents growth of approximately 70% over the past twelve months.
Production in January 2012 was just 248,000 b/d. For reference, the state of Texas is producing about 2 million b/d. The Eagle Ford represents over 20% of the state’s oil production. That’s impressive for a play that was only discovered four years ago.
Initial reports from December 2012 have been revised from 385,000 b/d to 417,000 b/d.