Oil production in the Eagle Ford Shale was up 74 percent in February compared with the year before.
Bloomberg News is reporting that the nine fields that make up the majority of the Eagle Ford yielded 471,258 barrels of crude a day in February. That’s an all-time high, based on preliminary data released by the Texas Railroad Commission. Gas production is dipping as drillers continue hunting oil instead of gas.
Production of condensates, or natural gas liquids, was 89,217 barrels a day in February, down from 117,789 a year earlier, according to the Bloomberg story.
Production of natural gas was 1.79 billion cubic feet a day, down from 1.87 billion the year before. Plains Marketing LP’s posted price for Eagle Ford light oil yesterday was $84.50 a barrel, compared with $88.38 for West Texas Intermediate and $107.66 for Brent.