Eagle Ford Production Up Slightly in March

1% Increase May Signal a Slowdown
Eagle Ford Produced 1.6 Million bpd in March

Eagle Ford Produced 1.6 Million bpd in March

Oil production in the Eagle Ford increased 28 percent from the same month last year, averaging 1.6 million barrel a day in March.

Relates: Eagle Ford Production Expected to Decline 

These findings are from Platt’s Bentek Energy, who also reported that there an increase in production of 17,000 barrels per day for the combined shale formations in North Dakota and Texas in March versus February. This slight increase of 1% may signal a slowdown in the record production that has led to an oil surplus. Platt’s daily price assessment shows the value of oil out of the Eagle Ford is up 25% since mid-March due to an average price for the year is $53.30 barrels per day.

Sami Yahya, Bentek energy analyst said that “Producers the Eagle Ford are still maintaining their production levels by high-grading their acreage and pushing for better efficiencies. The current average economic return for the two basins is 17%. However, the downside risk is that some producers may elect to increase their number of drilled-but-uncompleted wells in the near term—until they figure out their cash flow status—which will further flatten or bring down production levels.”

Learn more about Oil and Gas Production Basics in Non-Technical Language

Read more at platt’s.com

Eagle Ford Oil Production Growing Twice As Fast As Thought – Bentek

800,000 b/d Forecast Was Eclipsed Four Years Faster Than Expected
Eagle Ford Oil Production Forecasts

Eagle Ford Oil Production Forecasts | Click to Enlarge

Eagle Ford crude oil production has grown twice as fast as anyone thought just two years ago. That was the message delivered at day 2 of Bentek’s annual Benposium. [Read more…]

Eagle Ford’s Location is Long-Term Strategic Advantage

Gulf Coast Energy Complex and Infrastructure is the Best in the World

After spending much of the week at Bentek’s Benposium, it is clear the Eagle Ford’s position in the Gulf Coast energy complex is a long-term advantage.

“The Eagle Ford is exciting because of its location to the Gulf Coast. With rich gas in close proximity to Mont Belvieu, the Eagle Ford’s NGL net backs are among the highest in the country” – Kristen Holmquiest, NGL Analytics at Bentek [Read more…]

Bentek’s Benposium May 15-17, 2012

Bentek’s Benposium conference is May 15-17 in Houston. We’re out at the event and will be providing updates on the latest developments affecting South Texas.

Sign up for our Email Alerts and Follow on Twitter to keep up with our coverage. [Read more…]

U.S. Oil Production Growth Expectations Continue To Rise

U.S. oil production is expected to rise more than 2 million barrels per day by 2015. That’s from a new report written by Bentek that was released after the National Petroleum Council’s Production Report last week. The bulk of production will be added by the Bakken, Eagle Ford, and other plays in West Texas. IHS predicts that same oil growth could fuel the addition of 1.3 million jobs and add $97 billion in tax revenues.

I think it’s safe to say all three, production, jobs, and tax revenues, should be welcomed during this economic climate. [Read more…]

Eagle Ford Production Doubles in Two Months – Bentek

Bentek is quoted in a recent Reuters article about oil & gas pipelines in the Gulf Coast that Eagle Ford Shale production doubled over a two month period from May to July. That seems crazy, but if it is true, it is a glimpse of what’s to come in the Eagle Ford. I will not be surprised when the Eagle Ford Shale rivals the Bakken Shale in terms of production in the next couple of years. The Bakken, in North Dakota, is several years ahead of our South Texas play and produces over 300,000 barrels or oil per day.

Eagle Ford production doubled in two months and now stands at 160,000 bpd, according to energy consultancy Bentek.

Read the full press release at Reuters.com