A new report shows that the largest shale formation in Texas increased production in June.
According to analytics and forecasting firm Bentek Energy, that production in the Eagle Ford shale basin rose 18,000 barrels per day in June, about a 1 percent increase over the prior month, to an average of 1.6 million barrels per day. When compared to the same month in 2014, production was up by 17 percent or roughly 240,000 barrels per day.
As reported by the Oil and Gas Financial Journal (OGFJ), Bentek analyst Sami Yahya explained why the numbers were so impressive.
"It is astonishing to see what producers in the Eagle Ford … shale basins are accomplishing despite dwindling rig count numbers," Yahya told OGFJ. "Production is almost a quarter of a million barrels per day more."
Eagle Ford's rig count has dropped significantly year over year, about a 65 percent drop, going from 233 active rigs last June to just 105 rigs active at the time of the report, according to Yahya.
Bentek's results were supported by those of the Texas Railroad Commission (TRC), which released its June data just prior to Bentek. In the TRC's list of the top 10 producing counties in Texas, the top four crude oil producers, and five of the top 10, lie in the Eagle Ford shale basin. The other five counties on the list were all on the Permian basin in west Texas.
Eagle Ford was similarly dominant for natural gas, with five of the top 10 counties, as well as the number one spot in gas production. Three counties were on both lists: DeWitt, Karnes and La Salle. Of the other five counties on the list, four were on Barnett shale in northern Texas and the remaining one was on Haynesville shale, which extends from Texas to parts of Arkansas and Louisiana.