Breitling Oil and Gas analysts tell us oil and gas companies will spend $28 billion in the South Texas Eagle Ford play during 2013.
The anticipated Eagle Ford growth will concentrated on counties having crude oil and condensate exposure.
The pace of growth in the Eagle Ford shale shows no sign of slowing down, and our analysis indicates that Gonzalez, DeWitt, and Karnes counties have established themselves as the sweet spots of the play, and now account for over 50% of daily liquids production.
The Eagle Ford is the second largest US tight oil play and ranks fifth in terms of US shale gas production. The Bakken formation in North Dakota is the top US unconventional oil producer.
Eagle Ford liquids production has increased from to 700,000 b/d in just under 2 years.
We attribute the increased well productivity to both technology and experience. Depressed natural gas prices have prompted companies to continue diverting capital to liquid plays.