EIA: Eagle Ford Production to Fall

November Marks Eighth Straight Month of Declines
Eagle Ford Production | click to enlarge

Eagle Ford Production | click to enlarge

Oil and gas production in the Eagle Ford is expected to drop for the eighth straight month in November.

Related: Shale Industry Shake-Up

The U.S. Energy Information Administration released its latest numbers that project a drop in production in November by 71,000 barrels daily for the Eagle Ford.

The industry has been hit hard by falling crude oil prices, with energy companies drilling and completing fewer wells. Oil prices were higher than $100 per barrel last summer but was trading around $47 Friday.

Production is also slipping in the Bakken and Niobrara fields, according to EIA.

In addition to falling production, other indicators are showing the strain of low oil prices in Texas:

  • Texas  has seen a halt in job growth with almost 28,300 jobs cut in the industry over the past six months.
  • Over the last few weeks, the Eagle Ford Shale rig count fell below 100 and ended last week at 94.
  • Environmentalists are calling for a halt to drilling on university lands, which would be “disastrous for the University system and the Texas economy.”
  • Many Eagle Ford producers are selling assets and making deals in order to survive
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Elizabeth Alford

Elizabeth Alford

Elizabeth Alford writes on significant news developments in the Eagle Ford oil and gas play taking place across South TX. She is a freelance writer with an extensive communications, PR, and staff writing background.
Elizabeth Alford

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