Shale Production Booms and Foreign Oil Imports Decline

Shale plays, like the Eagle Ford, are contributing to U.S. production growth that has pushed imports of foreign oil below 50%. That’s down from more than 60% just 5 years ago. While hydraulic fracturing is highly debated, its use combined with horizontal drilling has shifted the U.S. from a position of a majority consumer to a producer who supplies most of its oil needs. We’re a long way from producing enough oil for the country, but at least we have a bargaining chip at the table.

We can produce more oil and have untapped reserves in the ground. If you have a couple of minutes, this is a pretty good article from the LA Times.  [Read more…]

Eagle Ford Shale Play Not Closely Followed

The Eagle Ford is getting a little love, but the Bakken is the talk of the oil world. That might change if current projections come to fruition.  We might have a resource race on our hands that pits American production vs. American production. That’s a nice problem when you consider we’ve haven’t been able to have that conversation for decades. We’re reliant on imports for a majority of our oil consumption, but the Eagle Ford and Bakken are beginning to put a dent in those numbers………Maybe, we’ll get Jim Cramer visit us in South Texas. [Read more…]

Shale Oil Production to Lower U.S. Imports

The Eagle Ford Shale, Bakken Shale, and Niobrara Shale are all estimated to reduce U.S. oil imports by as much as 500,000 barrels a day over the next five years, according to an industry study.  Shale Oil production could rise to 900,000 barrels a day in the same time frame and could be as much as 1.3 million barrels a day by 2020. [Read more…]