Eagle Ford Shale oil output to fall again in March

An oil pump operates near a field of cattle in Karnes City, Texas on Jan. 16, 2015. (Kin Man Hui/San Antonio Express-News)

An oil pump operates near a field of cattle in Karnes City, Texas on Jan. 16, 2015. (Kin Man Hui/San Antonio Express-News)

Oil production from the Eagle Ford Shale has been dropping for a year.

The amount of crude and the light oil condensate, a light oil, flowing from the South Texas field will dip again in March, according to a report from the U.S. Energy Information Administration.

Production will slide by about 50,000 barrels daily, to around 1.22 million barrels per day next month.

It marks a year of monthly drops for the Eagle Ford, the oil field that arcs from the border near Laredo to the College Station area.

The field peaked at 1.7 million daily barrels last March and will be producing 486,000 fewer daily barrels this year in March of this year, according to the EIA.

The industry has been hit hard by falling crude oil prices, with energy companies drilling and completing fewer wells. A barrel of oil cost more than $100 per barrel in the summer of 2014 but traded below $30 last week.

The Permian Basin in West Texas and eastern New Mexico, the largest overall crude producer in the United States, is the only major shale oil field with rising oil production, and its production growth is slowing to a crawl. The Permian is expected to pump 2.04 million barrels of crude oil per day in March, up by about 500 daily barrels from this month.

Overall, U.S. shale fields will pump about 4.9 million barrels of oil per day in March, a decline of about 92,000 barrels from February.

The EIA’s drilling productivity report tracks oil and gas production in the major U.S. shale fields.

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