SAN ANTONIO — The unrelenting pace of drilling and development will continue in South Texas this year, with oil and gas companies expected to spend between $23 billion and $30 billion in the Eagle Ford Shale.
A new report from the research and consulting firm GlobalData calls the Eagle Ford “an even larger resource than initially thought” and says the industry remains enamored of the field, which has emerged as one of the country’s hot spots for crude oil production.
It pegs 2014 spending at $30 billion as companies do everything from drilling wells to building pipelines and processing plants.
Energy research firm Wood Mackenzie anticipates $23 billion in spending, down from around $28 billion in industry investment in the field last year. But Wood Mackenzie says the decline in spending isn’t due to waning interest. Instead, operators are getting more efficient.
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