• 4 minutes Tariffs to derail $83.7 Billion Chinese Investment in West Virginia
  • 9 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 17 minutes Kaplan Says Rising Oil Prices Won't Hurt US Economy
  • 3 hours Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 2 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 18 hours Corruption On The Top: Netanyahu's Wife Charged With Misuse of Public Funds for Meals
  • 7 hours Saudi Arabia turns to solar
  • 4 hours Why is permian oil "locked in" when refineries abound?
  • 11 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 1 hour Could Venezuela become a net oil importer?
  • 7 hours Teapots Cut U.S. Oil Shipments
  • 6 hours Oil prices going down
  • 7 hours Hot line, Macron: Phone Calls With Trump Are Like Sausages Best Not To Know What Is Inside
  • 23 hours Sell out now or hold on?
  • 23 hours Could oil demand collapse rapidly? Yup, sure could.
  • 24 hours Gazprom Exports to EU Hit Record
  • 22 hours "The Gasoline Car Is a Car With a Future"
  • 8 hours Putin Says 'Fierce' U.S. Politics Hindering Summit With Trump
  • 17 hours EU Confirms Trade Retaliation Measures vs. U.S. To Take Effect on June 22
5 Companies To Watch As Tech Takes Aim At The Finance Industry

5 Companies To Watch As Tech Takes Aim At The Finance Industry

The fintech revolution has accelerated…

Oil Inches Higher On Strong Crude Draw

Oil Inches Higher On Strong Crude Draw

Oil prices rebounded on Wednesday…

Capital Expenditure in the Eagle Ford Estimated to Reach $28 Billion in 2013

A new analytical study by Wood Mackenzie has predicted that capital expenditure in the Eagle Ford shale formation in 2013 will reach $28 billion. That will be equal to a quarter of all the money invested in oil exploration in the entire US (less Alaska).

Most of the $28 billion will be invested around the Gonzales, Kernes, and DeWitt Counties, which together produce more than 50 percent of daily US liquids production.

One of the most expensive shale formations in the world to develop is the Kashagan project in Kazakhstan needing an estimated $116 billion, yet Wood Mackenzie have suggested that between 2012 and 2015, capital expenditure in the Eagle Ford will surpass that in the Kashagan.

Related Articles: Booming U.S. Natural Gas Production to Export LNG to Thailand?

Callan McMahon, an analyst from Wood Mackenzie, said that, “definitely, it’s the spot to be. We see that with activity being very heavily concentrated in that area.”

The three largest players in the Eagle Ford formation are EOG Resources, BHP Billiton, and ConocoPhillips. It is suggested that Eagle Ford now makes up 38% of EOG’s value, and about 20% of BHP Billiton’s portfolio.

The Eagle ford offers dry natural gas, thick oil, and light oil, however few people are drilling for natural gas at the moment due to the incredibly low prices.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News