Eagle Ford Oil Boom - Natural Gas Slump - EagleFordShale.com Quoted

Eagle Ford oil potential has kept drillers interested and even shifting capital to the play over the past year. Both oil and gas prices are up over the past few weeks, but comparatively $92/bbl is much better than $3/mcf. Read the entire article that details rig activity and production growth at chron.com

R.T. Dukes, a director at the website EagleFordShale.com, which posts news about the shale, said oil companies' budgets "are being pressured by natural gas prices, but drilling activity hasn't really slowed down in the Eagle Ford." However, if the price of oil should drop again and gas prices remain low, "you'll probably see some sort of slowdown in the second half of the year."

Yet Dukes remains bullish on the Eagle Ford.

"It's a first-class play in the United States," he said. "That usually doesn't change over short periods of time. On a relative basis, it's still better than most plays in the U.S.," he said.

Should natural gas prices go much higher, "you'll see additional capital come to the Eagle Ford," he said.