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.
Rusty Braziel, founder of RBN Energy, compared the company's forecast from two years ago to what the company expects today. What was predicted as production for 2016 in 2011 has already been eclipsed! In 2011, Bentek expected Eagle Ford oil production would eclipse 800,000 b/d sometime in 2016.
Well, the play eclipsed 800,000 b/d sometime at the end of 2012 and is now expected to produce more than 1.4 million b/d by 2016. How's that for impressive production growth.
Other highlights from the conference included:
- The average Eagle Ford well drilling time is estimated at 20 days - Down from 38 in 2010
- Some Eagle Ford crude will have to be moved by water - Gulf Coast demand will not be enough
Bentek's annual Benposium conference is held in Houston each Spring.