Oil, NGL and condensate opportunities lift Eagle Ford Shale activity

摘要

Leasing and drilling activity are gaining due to prospects for producing higher-priced liquids in addition to dry gas. Shale plays have changed the landscape of the US oil and gas industry. While the Barnett, Marcellus and Haynesville Shales offer potential gas reserves measured in trillions of cubic feet, activity in these regions has been subdued somewhat due to low gas prices in the range of $4-5/Mcf. Consequently, many operators are turning their attention to the Eagle Ford Shale, which offers opportunities for the production of higher-priced condensate, natural gas liquids and crude oil, Fig. 1. The lucrative nature of the Eagle Ford has been confirmed through the arrival of multinational oil companies such as Shell, BP and ConocoPhillips via joint ventures and mergers as well as the direct leasing of acreage, particularly in the Eagle Ford condensate and oil windows.