Some strong drills results in the Eagle Ford Shale play in South Texas are exciting some analysts who believe the site could be superior to the Bakken formation.
Global information company IHS says Eagle Ford’s best drilled wells exceed the performance of wells in the Bakken.
“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 aren’t nearly as high at this point in development of the Eagle Ford, the peak of the well-distribution curve compares favorably with the Bakken.”
In 2010 oil production at the Bakken formation reached 458,000 barrels per day.
The USGS estimated in 2008 that there is 2.0-4.3 billion barrels in the Bakken, but that figure is now considered to be low.
The Eagle Ford Shale play is spread across multiple counties in South Texas. It is named after a small settlement, Eagle Ford. BHP Billiton’s Petrohawk Energy has been busy in the area. In La Salle County, Texas, the company drilled a natural gas well that is producing over 9.1 million cubic feet per day.