The Eagle Ford Shale is flying. By April of this year, operators already had permitted 743 Eagle Ford wells, putting them on course to overtake the 2010 total of 1,000 wells.
That the play is making fortunes for long-time local producers and bringing new faces to South Texas is no surprise, participants say. It offers access to oil in its northern portion, condensate-rich gas in its middle portion, and dry but high-volume gas in its southern portion, and it underlies rich-gas intervals such as the Olmos, Escondido and Wilcox. Midstream infrastructure, proximity to the United States’ largest refining market, and pipelines leading to markets in every direction add to its appeal.
Today, most Eagle Ford producers indicate they have transitioned from exploration and appraisal wells to developmental drilling. Their efforts have boosted the play’s total production from 3 billion cubic feet of gas, 19,000 barrels of condensate, and 130,000 barrels of oil in 2008 to 17 Bcf of gas, 3.2 million barrels of condensate and 3.0 million barrels of oil in 2010.
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