Eagle Ford Shale NGLs, along with other liquids producing plays, are helping make the U.S. competitive in the worldwide petrochemical market. “That’s a drastic change from just 10 years ago when companies thought there would never be another petrochemical facility built in America”, says Wood Mackenzie’s Senior NGL Analyst Larry Schwartz.
Eagle Ford NGL Production Growing to 300,000+ b/d
We recently sat down with Schwartz to get additional insight into the growing natural gas liquids (NGL) market in South Texas. In short, he expects the Eagle Ford will go from producing ZERO barrels of NGLs a few years ago to more than 300,000 barrels per day (b/d) by 2020. For reference, the EIA tracks processed volumes of NGL production (at the plant level) and as of the 4th quarter of 2011 the entire market is a little more than 2.2 million b/d. If total production held flat, the Eagle Ford would easily account for more than 10% of the total U.S. NGL market in 2020. [Read more…]