Drilling in the Eagle Ford shale has dramatically increased in 2012, as producers have frantically turned away from cheap natural gas to production from regions that yield higher priced oils and other liquids.
The number of new wells drilled in Texas’ Eagle Ford shale more than doubled during the first three months of 2012, compared with the same period a year ago, according to Bentek Energy.
Operators started 856 new wells in the first quarter of 2012, compared with 407 in the same period a year ago, the energy market analysis firm reported.
There was also a record high number of 217 rigs active in the Eagle Ford during this month.
The increase in activity ratcheted up production of oil and other liquids, from 182,000-barrels-a-day in April 2011 to more than 500,000-barrels-a-day this month, according to Bentek’s analysis, which the U.S. Energy Information Administration highlighted on its website.
The Eagle Ford currently produces about 2 billion cubic feet of natural gas per day.
According to Bentek, Eagle Ford crude oil and liquids production was approaching the levels of the booming Bakken shale formation in North Dakota and eastern Montana during March 2012.