Production of oil, natural gas and condensate continues trending upward in the Eagle Ford Shale, according to Railroad Commission of Texas (RRC) data. During the first four months of this year, daily oil production surpassed that seen in 2012 and daily production of natural gas nearly met the 2012 level.
Oil production in the Eagle Ford Shale rose 54% in April from a year ago. The nine fields comprising most of the play yielded 530,689 b/d of crude oil, according to preliminary RRC data analyzed by Bloomberg. The nine fields produced 345,702 b/d in April 2012. February output was revised to 561,554 b/d from the preliminary report of 529,874 b/d.
The numbers are the latest chapter in a familiar story about the Eagle Ford, although some analysts have said they think production levels in the play are even higher than official figures would suggest (see Shale Daily, May 31).
For the period of January through April, RRC reported that the Eagle Ford produced:
The number of drilling permits issued in the Eagle Ford for the period January through May (1,921) puts the play on track to this year surpass the number of permits issued in 2012 (4,143).
Carrizo Oil & Gas Inc. recently raised its second quarter oil production guidance to 10,800-11,200 b/d from 9,600-10,000 b/d, increased its 2013 crude oil production growth target to 40% from 28% and raised its total 2013 production growth target to 10% from 6%, based largely on results in the Eagle Ford (see Shale Daily, June 18). However, it was also recently reported that Eagle Ford player Talisman Energy Inc. was shopping its Eagle Ford acreage, an asset that has been thought to be core to the Calgary-based company (see Shale Daily, June 20).