While American’s were celebrating their Thanks Giving last month, OPEC was meeting in Vienna figuring out a way to derail the US latest oil boom of unconventional drilling. Led by Saudi Arabia, the OPEC plan was to not cut oil production and this would then squeeze the US out the market. What is actually happening, the market has taken control of the price and is putting the squeeze on many OPEC nations that cannot operate at a $60 cost per barrel. The large US supplies have no intention of slowing down production as they tired of OPEC dictating their future. Now OPEC finds it’s self for the first time not controlling the market. This is music to the US oil producers, as we’ll see in the new year OPEC backing off and oil prices bouncing back to the $75 – $85 a barrel in mid-2015.
Eagle Ford Shale, one of most successful oil shale plays in the US, just produced their billionth barrels of oil last month has no intention of slowing down. Oil prices may be dropping but the big US oil producers have no plans to slow down operations in Eagle Ford Shale. Karnes County –Eagle Ford Shale the most successful drilling area is producing 1000 to 1500
The good news is OPEC will end up folding their cards by cutting production, as the US producers know very well not to play into the hands of OPEC. It’s time for the US to take back control and not back down by slowing down production.barrels per day and even at $40 a barrel the oil stakeholders can make money all day long. The cost for the oil producers to shut down or slow down operations is far more costly than riding out the storm for the next 6 months and wait for the market to come back to the $75 – $85 range.
Writer: Stan Sprenger operates Eagle Ford Village in Eagle Ford Shale and is in close contact with many of the large oil producers. Dec 12 2014
The future is looking bright for the Eagle Ford Shale! The Railroad Commission in Texas regulates the exploration and production of oil and gas in Texas. For more than 120 years, the Commission has played a critical role in the establishment of Texas as an international energy leader.
According to the Railroad Commissioner David Porter, “The Eagle Ford Shale has the potential to be the single most significant economic development in the history of the state of Texas.” The Eagle Ford Shale has been rapidly growing and developing over the last decade, and now it is very possible that it will become the largest onshore discovery EVER in the United States! Additionally, there is more capital is invested in the play than any other oil and gas development in the world! Porter goes on to say, “The Eagle Ford Shale has the potential to become the most active oil and gas play in North America, with approximately 235 drilling rigs currently running. Operators forecast that the play will continue to develop for decades to come.”
To get a better idea of just how prosperous this region is, take a look at the facts below. The Eagle Ford Shale recently posted an article called “Eagle Ford Facts that Might Surprise You”.
- If the Eagle Ford lives up to its potential and reserves are greater than 10 billion barrels, it will be the largest U.S. onshore discovery ever
- It’s the fastest growing shale play in the world and has grown to almost 700,000 b/d of oil production in five years since its discovery
- Light, sweet crude oil production near the Gulf Coast petrochemical complex make it more valuable than other grades that must be transported longer distances
- Wells are getting cheaper as companies gain experience and shift to pad drilling
- More is invested in the Eagle Ford than any other play in the world – Eagle Ford Capital Spending Makes the Play To the Largest in the World
In 2011, when the nation’s unemployment rate was above nine percent, South Texas was generating a windfall of high-paying jobs— and the oil and gas industry’s demand for skilled labor in the Eagle Ford Shale is expected to remain strong.
Here at Eagle Ford Village, located in Dilley, Texas, we are proud to offer affordable housing for all of these workers that are in demand in the Eagle Ford Shale! We offer offer short-term, long-term and by the night accommodations. Our cabins and lodging in Dilley are located 1.5 miles east of I-35, exit 84. Feel free to contact us anytime to make a reservation!