The EIA’s latest numbers show the Eagle Ford is blazing through expectations. The play is on pace to have more development drilling and higher production than many expected just a few short months ago. Highlights from the report include:
- 856 wells started in the first quarter of 2012 (100%+ increase over 2011)
- On pace for more than 3,000 wells started in 2012. With added rigs and drilling efficiency gains, 3,500+ is likely
- 500,000 bbl/d of crude and condensate produced in April
- Eagle Ford natural gas production has eclipsed 2 Bcfd (U.S. produced 83 Bcfd in Jan. 2012)
Read the entire update at eia.gov
Overall, drilling starts are up from less than 50 per month at the beginning of 2010 to more than 350 in March of 2012. Wow!