Eagle Ford Shale activity increases, experts say
Productivity in the oil and gas industry for the Eagle Ford Shale is increasing, but experts say they don’t expect a boom anytime in the near future.
“It would take a tremendous and unexpected increase in global demand to get up to over $100 a barrel, which I don’t expect to happen,” said economist Karr Ingham, owner of InghamEcon in the Amarillo area. “That’s not to say it couldn’t.”
A quarterly meeting between oil industry and DeWitt County officials Dec. 8 revealed activity is picking up in the Eagle Ford Shale, DeWitt County Judge Daryl Fowler said.
“The increased activity will help stabilize our tax base, which has retreated by $2 billion in the last two years in DeWitt County,” he said. “It will help us generate enough for our campaign to regenerate our roads.”
ConocoPhillips plans to have five rigs in the Eagle Ford Shale by the end of January in DeWitt, Karnes and McMullen counties, Fowler said.
Pioneer Natural Resources plans to move two rigs back to DeWitt and Karnes counties and 18 new wells to the shale in 2017. Some of the wells were drilled previously but were not completed. BHP Billiton in partnership with Devon Energy plans to have three or four rigs drilling in DeWitt, Karnes, McMullen and La Salle counties in 2017.
Written by Kathryn Cargo