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Thursday, October 24, 2013

Eagle Ford Hits 1 Million BOPD; The Bakken On Track To Be Not Far Behind

Reuters via Rigzone is reporting:
In the U.S. shale oil race, the Eagle Ford formation in Texas has beaten North Dakota's Bakken to the 1 million barrel per day milestone, according to a U.S. Energy Information Administration report on Tuesday. The new monthly report, which is the first national effort to lay out comparable monthly figures and projections from six major shale plays, highlighted the stunning speed with which the Eagle Ford region has overtaken the Bakken region that first showed how hydraulic fracturing and horizontal drilling technology could revolutionize the oil industry.
Total production from Eagle Ford hit 1 million bpd in August and is projected to rise to 1.07 million bpd in October and to 1.09 million bpd in November, the EIA report showed. The Bakken, mostly in North Dakota, is expected to produce 935,000 bpd in October and 960,000 bpd in November. The Bakken is the more mature of the two, with drilling ongoing since 2003. The Eagle Ford, which initially was seen as a natural gas play, did not have notable oil drilling until early 2009, according to consultant IHS.
I don't think anyone is complaining.