Skip to comments.Forget North Dakota — There's A New Shale Oil Boom State In Town (Texas!)
Posted on 08/09/2012 3:03:34 PM PDT by blam
Forget North Dakota There's A New Shale Oil Boom State In Town
Aug. 9, 2012, 3:32 PM
You probably saw our big feature on reporter Robert Johnson's trip to Williston, North Dakota, the capital of the state's Bakken shale oil boom has led to defacto full employment.
But we may have journeyed to the wrong region.
A new report from IHS Global Insight (as noted by Professor Mark J. Perry) suggests the Eagle Ford play near San Antonio, Texas, is poised to overtake the Bakken as the country's most promising oil reservoir:
Our analysis at IHS indicates that Eagle Ford drilling results to date appear to be superior to those of the Bakken, said Andrew Byrne, director of equity research at IHS and author of the study. Although the well counts arent nearly as high at this point in development of the Eagle Ford, the peak of the well-distribution curve compares favorably with the Bakken.
The firm found Eagle Ford sites capable of producing around 300 to 600 barrels-per-day for a peak month production average, compared with 150 to 300 barrels-per-day for the Bakken. The Eagle Ford also has better average peak-month production rates.
Here's a neat GIF showing how the play has exploded in the past few years:
(Excerpt) Read more at businessinsider.com ...
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My sister-in-law’s husband is an engineer working in that shale field. That area is booming with business now.
The great thing about both Eagle Ford and Bakken (among other shale plays) is that they are under private property, so Fauxbama and his anti-American, one-worlders can’t shut it down. You should see the Eagle Ford area, its almost like the Gold Rush in terms of what its done to a good part of South Texas. EF contributed $11 billion to the Texas economy last year, and its barely started - in 5 years it’ll be over $100 billion and still climbing. There are, like in North Dakota, severe labor shortages among truckers and drillers, and no hotel space for miles around the wells.
Fauxbama and the EPA had better stay the #$%* away, Texas isn’t going to let you shut us down.
It’s really great news for Texas!!
Great news as it’s closer to the refineries.
Old News ... but still GOOD
Some estimates as high as 300 billion barrels in place.
There’s a boom in WV too
Marcellus/Utica Shale is now near the #1 producer of natural gas.
American energy independence brought to you by American workers earning above-average wages!
We will not be stopped by the liberals!
And it is even better after I recycle it... a time or two!
So that is what I get for having my outdoor patio on the ground floor of Robot Arms Apartment complex....
Then when winter comes, do not... under any circumstances, eat yellow snow.
I note from the map that the formations extend into Louisiana (my home state) as well. Good! I'm sure the "oil patch Cajuns" will appreciate not having to endure Dakota winters to find work, and that the chemical companies around Houston, Lake Charles, and along the Mississippi will appreciate the long-term availability of low-cost feedstock(s).
What is the formation like as it heads into Mexico?
I haven't seen good maps, but most people figure that it will be some time before we really care about it.
Time to move to Texas!
I remember back in the seventies that extracting oil from shale wasn’t cost effective. Are there new technologies, or is it cost-effective because of the high price of oil?