Forecasts for Eagle Ford production
Previously mentioned a report from EIA that said production in Eagle Ford would be over 1M bopd in October and November. That confused me.
Got myself straightened out.
That amount includes condensates as well as crude oil. Aha! I’m a little slow on the update sometimes, but I’m catching on. Slowly.
That explanation from the Eagle Ford Shale’s post, Is the Eagle Ford on Its Way to 2 Million Barrels Per Day of Oil Production?
Short term projection – 1 million bopd of oil
Current production of oil is around 700K bopd, according to the article.
Eagle Ford Shale’s guess, based on what they are hearing, is for production to pass the 1M bopd level for oil in the first half of 2014.
Long term projection – near 2 million bopd of oil
The article suggests near or under 2M bopd within 4 or 7 years. The key comment:
Most research organizations predict production will reach between 1.6 and 2 million b/d sometime between 2017 and 2020.
The rest of that paragraph has a comment that if other areas prove to be commercial, the production could be even higher.
We will soon see three fields producing over 1M bopd: Permian, Eagle Ford, and Bakken.
(Photo of well site in North Dakota by James Ulvog. I don’t have any photos from Eagle Ford, so pardon me for using a photo from Bakken when talking about Eagle Ford.)