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.
A few weeks back CNBC sent anchor and Mad Money host Jim Cramer up to the Bakken shale to get an on the ground view of the amazing changes taking place in the area. North Dakota is booming with an overwhelming demand for employees. The companies leading the drilling efforts such as Continental Resources (CLR) and Brigham Exploration (BEXP) have benefited handsomely from the massive growth in that area.
Though known by many industry experts and investors, another area exists in southern Texas that might match or exceed the oil produced from the Bakken. That area is called the Eagle Ford Shale.
With an estimated 25B boe, Eagle Ford has enormous untapped potential. Companies have in earnest only been drilling in the area for the last couple of years. Petrohawk (HK) was a leader in the area and BHP BIlliton (BHP) recently bought them out.
Read the full news article at seekingalpha.com