Leading growth areas in the U.S. are the Marcellus, Haynesville and Eagle Ford shale plays.
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Murphy also recently established a big position in the Eagle Ford shale region of Texas.
First the Eagle Ford shale, then newer areas like the Mississippi Lime and Permian Basin.
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Interestingly, Hess is selling its assets in the highly profitable Eagle Ford shale in Texas.
The oil industry is planning on drilling 3, 000 wells this year in the Eagle Ford shale alone.
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The Eagle Ford shale discussed in the NY Times article is between 2, 500 and 15, 000 feet deep.
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Last week, we talked about the Eagle Ford Shale, and what a blessing it is for Texas and Texans.
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The geologic trend targeted in the Niobrara shale is the same as the Eagle Ford shale, a thousand miles south.
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With the advent of the Eagle Ford Shale in 2008, shale natural gas production almost tripled in Texas between 2009 and 2012.
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The company has proven unable to capitalize on the lucrative Eagle Ford shale play from which competitors have made fortunes, among other missteps.
Enterprise added a fourth fractionator at Mont Belvieu late last year to handle supply growth from the Eagle Ford Shale play in South Texas.
But these days, he's house hunting in San Antonio, the biggest city near the booming Eagle Ford Shale formation, a prime location for hydraulic fracturing.
New reserves and new fortunes are being made in the Eagle Ford Shale of Texas, the Niobrara in Colorado, the Marcellus in Pennsylvania and the Woodford.
In the wake of this event, now is a good time to reflect on exactly what the Eagle Ford Shale means to the State of Texas.
And in the Eagle Ford shale, what you get out of a well varies greatly depending on where your lease happens to be located above the formation.
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Consider this: the common belief that an operator is able to recover 10-15% of the available resource with the initial completion of an Eagle Ford Shale well.
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On the other hand, CNOOC, a state backed oil and gas firm, has signed deals with Chesapeake Energy to develop shale projects at the Eagle Ford shale.
As mentioned last week, several projections indicate that the Eagle Ford Shale is very likely to ultimately surpass the East Texas Field as the largest oil field ever discovered in the lower 48 states.
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The prolifically productive shale oil formations, like the Bakken Shale in North Dakota and the Eagle Ford Shale in Texas, produce very high quality crude that is in no way similar to Bitumen.
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High oil prices and improved horizontal drilling techniques made oil production in tight oil plays like the Eagle Ford Shale in Texas and the Bakken Formation in North Dakota economical for the first time.
Earlier this month, Howard Energy Partners, partially owned by Crosstex, told mergermarket it had taken an undisclosed equity stake in Live Oak Railroad, a rail terminal project modeled after Rangeland but located in the Eagle Ford shale play in South Texas.
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Through the acquisition, KMP will expand its presence in the Eagle Ford shale in Texas, which is considered to be one of the most promising areas in North America due to its rising high quality output and proximity to key markets.
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If you have wondered why the Texas economy has out-performed the rest of t he country in recent years, you need look no further than that familiar check mark-shaped portion of South Texas that delineates the boundaries of the Eagle Ford Shale.
Much of this is thanks to the development of the Eagle Ford Shale, and the Eagle Ford Consortium has played a very significant role in ensuring that development has taken place in an orderly fashion, and in maximizing its benefits across the communities in the Region.
The most reliable projections that have been issued to date make it clear that the Eagle Ford Shale is likely to ultimately surpass the East Texas Field to become the largest oil field ever discovered in the lower 48 states in terms of total ultimate oil production.
The leadership displayed by Consortium Chairman Leodoro Martinez and others in organizing and managing this collaborative effort has been truly extraordinary, and has been a major factor in ensuring the Eagle Ford Shale has become a major success story, and a model for leaders in other shale plays across the United States to follow.
Some of its major growth projects are in the liquid-rich Eagle Ford and Bakken shale regions in the U.S. and the Gulf of Mexico.
Up next to the Eagle Ford and the Bakken shale plays, it is relatively new and recent findings from the region indicate certain areas may be even more prolific than first estimated.
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