Ford

Hurricane Harvey’s lingering impact on the Texas energy sector is forcing producers to reduce guidance, not only from shut-ins in the Eagle Ford Shale but also because of petrochemical limitations at Gulf Coast processing facilities.

The Texas Gulf Coast was drying out Tuesday, more than a week after Harvey pummeled the region and dumped record rainfall across the Greater Houston area, the nation’s largest energy complex. The oil and natural gas industry was back to work after the Labor Day holiday, while experts were attempting to make sense of long-term impacts from the devastation.

The Railroad Commission of Texas estimated that as much as 500,000 b/d of Eagle Ford Shale production, or around one-third of its current output, was shut-in because of Harvey.

Post Oak Energy Capital LP is opening up its pocketbook once again, agreeing to commit $100 million to Sierra EF LP, which is zeroing in on the Eagle Ford Shale’s dry natural gas window in South Texas.

Eagle Ford Shale activity bottomed in 2016 and since has turned the corner, as more rigs are raised and activity is escalating, a South Texas economic study is indicating.

Faster completions in the Eagle Ford Shale have prompted SM Energy Co. to raise production guidance by about 0.4 million boe, all thanks to activity during the second quarter.

Rig counts are up handsomely from year-ago levels, and the Permian Basin has been no slouch in contributing to gains. But the Eagle Ford Shale has made a comeback, too.

Rig counts are up handsomely from year-ago levels, and the Permian Basin has been no slouch in contributing to gains. But the Eagle Ford Shale has made a comeback, too.

Lonestar Resources US Inc. said Tuesday it is acquiring more than 30,000 gross (21,238 net) acres in the Eagle Ford Shale in South Texas for a total purchase price of $116.6 million.