(placeholder)
(placeholder)

Get In Touch

PO Box 781172

San Antonio, TX  78278

210-849-7519

ibob@eaglefordflyer.com

Connect with Us

LinkedIn
Facebook
Twitter

Eagle Ford Flyer

PO Box 781172

San Antonio, TX  78278

210-849-7519

bob@eaglefordflyer.com

Email

EIA: Eagle Ford Production to Fall

November Marks Eighth Straight Month of Declines

Oct 19, 2015 By Elizabeth Alford















Oil and gas production in the Eagle Ford is expected to drop for the eighth straight month in November.


The U.S. Energy Information Administration released its latest numbers that project a drop in production in November by 71,000 barrels daily for the Eagle Ford.


The industry has been hit hard by falling crude oil prices, with energy companies drilling and completing fewer wells. Oil prices were higher than $100 per barrel last summer but was trading around $47 Friday.

Production is also slipping in the Bakken and Niobrara fields, according to EIA.


In addition to falling production, other indicators are showing the strain of low oil prices in Texas:


          Texas  has seen a halt in job growth with almost 28,300 jobs cut in the industry over the past six months.

          Over the last few weeks, the Eagle Ford Shale rig count fell below 100 and ended last week at 94.

          Environmentalists are calling for a halt to drilling on university lands, which would be “disastrous for the University system and the Texas economy.”

          Many Eagle Ford producers are selling assets and making deals in order to survive

          Sanchez is selling approximately 150 miles of midstream infrastructure

          Alta Mesa Holdings will exit from the Eagle Ford by selling Alta Mesa Eagle, LLC to EnerVest for $125 million.


More News

(placeholder)
(placeholder)
(placeholder)
(placeholder)
(placeholder)

Search...

Connecting Services and Businesses in the Eagle Ford Shale Play

Find It In The Eagle Ford Shale!

Accept Credit Cards

© Copyright 2010 - 2017   Eagle Ford Flyer.  All Rights Reserved.  Website Design by SOCIAL SEARCH & RESCUE

Twitter
LinkedIn
Email
Facebook

$240 million venture for new Eagle Ford natural gas system

.

The EIA estimates that the Eagle Ford Shale play has accounted for most of that production drop. With weak prices forecasted for the rest of 2016, Tunstall predicted there is more pain in store for the industry.


“We’re probably going to see a fair amount of industry shake out next year because of the low prices,” he said Thursday. “The companies that had hedged their production, those hedges are expiring and banks are becoming more reluctant to extend credit, so we’re going to see some additional bankruptcies, some sales of assets and that sort of thing next year.”

(c)2016 Victoria Advocate (Victoria, Texas)

(placeholder)

Continued  Oil exports could bolster Eagle Ford – eventually