The U.S. Energy Information Administration (EIA) predicts the Eagle Ford Shale will produce 1.51-million b/d crude oil in September 2014. That’s an increase of ~31,000 b/d over August’s expected production (1.48-million b/d), according to the EIA’s monthly Drilling Productivity Report released this week.
In May, 2013, the Eagle Ford hit the 1-million b/d mark for total liquids production, and in August 2013, exceeded the 1-million b/d crude oil mark. Since 2011, when development of the play began ramping up, production has more than quadrupled.
Most research organizations predict Eagle Ford area production will reach between 1.6 and 2-million b/d sometime between 2017 and 2020. Among a number of factors, recent results from operators in the Eagle Ford’s overlaying Austin Chalk have yielded positive results, and may help push the time-frame up quicker for hitting the 2-million b/d mark.
In April 2014, Texas’ state-wide production surpassed the 3-million b/d crude oil mark, thanks to the Eagle Ford Shale and increased production in West Texas’ Permian Basin. North Dakota, which encompasses the prolific Bakken Shale play, and Texas combined produced nearly half of all U.S. oil production during the same month. By 2015, the U.S. is predicted to become the top oil producer in the world, according to the International Energy Agency (IEA).
The EIA predicts U.S. shale plays are expected to produce 4.87-million b/d in September 2014. That’s up from 4.77-million b/d in August 2014.
See the full report at eia.gov