Eagle Ford Overview: Part IV-Conclusion
Hart Energy, the publisher of “E & P” magazine, recently released their “Eagle Ford Techbook” which includes an excellent article by Richard Mason entitled “The Eagle Ford Shale, Energy Titan of the Southwest”. I have posted some of the information contained in the Techbook in general, and Mason’s article, in particular. I have also injected my opinions as well. This is the fourth and final post in the series related to the Eagle Ford Overview. However, I plan to make future posts related to other articles in the “Eagle Ford Techbook”.
Assuming the average Eagle Ford well costs $7.5 million, the contribution to the economy would be about $35 billion in 2014. Further, the University of Texas at San Antonio Institute for Economic Development estimates that the overall contribution to Gross Domestic Product will be $61 billion and that 116,000 jobs have been created state wide.
The Eagle Ford’s contribution is greater than its direct economic impact. The lessons learned from the utilization of some many tier I rigs have significantly increased our technical knowledge as an industry. With 160 (71%) of the rigs in the play being considered higher end technology, it is truly on the cutting edge. Only the Permian Basin has more rigs drilling horizontally.
While much has been accomplished, there continues to be much to learn about how to coax more hydrocarbons out of the tight formation. Consequently, most operators readily admit that we are still in the early days of the Eagle Ford shale.
For more details, please contact Hart Energy at www.epmag.com to subscribe and ask about your own copy of the Techbook.