Eagle

Over the last five months, the number of horizontal drilling rigs targeting oil in the Permian Basin of West Texas and southeastern New Mexico has climbed by more than five dozen, according to the U.S. Energy Information Administration (EIA), marking a steep ramp-up in activity.

ConocoPhillips posted better-than-expected results in the first quarter, aided by its “biggest contributor” today, the Eagle Ford Shale.

Super independent ConocoPhillips’ estimated resource base in the Eagle Ford Shale is 2.5 billion bbl of oil in place, much more than a previous forecast of 1.8 billion, management said Thursday.

Onshore independent Penn Virginia Corp.'s (PVA) shares continued to strengthen on Friday, four days after noted investor George Soros disclosed his firm now controls close to 9.18% of the company.

At the close of a turbulent year, EXCO Resources Inc. ended 2013 with production decreases and a rising tide of red ink, but moves it made in the Eagle Ford Shale last year may be the light at the end of the tunnel, company officials said.

Shares of Denver-based Forest Oil Corp. lost nearly 38% of their value Wednesday after the company said it was deferring drilling in the Eagle Ford Shale while it mulls 3D seismic data and evaluates recent well completion designs due to poor well performance. Capital is to be redirected from the South Texas play to liquids-rich opportunities in the Ark-La-Tex.

Rosetta Resources Inc. entered the Permian Basin almost a year ago, and growing production there and from its substantial Eagle Ford Shale holdings lifted the company’s fourth quarter production to a new record.

Eagle Ford Shale crude oil producers now have a new option for transportation as NuStar Energy LP has completed construction of its private marine loading dock at its North Beach Terminal in Corpus Christi, TX, and has its first ship at the dock to be loaded with crude oil.

The 195-mile Double Eagle Pipeline, designed to deliver Eagle Ford Shale condensate to Corpus Christi, TX, is in full operation, owners Magellan Midstream Partners and Kinder Morgan Energy Partners said Thursday.