The economic recession hit the U.S. hard in 2008. But it was during this time that a blessing in the form of a shale came for Texas, helping the state get back up on its feet and outperform most of the states economically the subsequent years.
The Eagle Ford Shale is named after the town of the same name where outcrops were first observed. It is a sedimentary rock formation that produces hydrocarbon substances, such as oil and natural gas. It is of utmost significance due to its production capacity, which is greater than many other traditional shale plays.
Since its discovery in 2008, thousands of wells have been drilled on the 50-mile wide and 400-mile long shale that has a depth of approximately 4,000 to 12,000 feet. Innovation in oil extraction resulted in effective techniques such as horizontal drilling and hydraulic fracturing. And because of such technology, Eagle Ford Shale has been producing 1.5 million barrels of oil per day as of December 2015.
The shale is believed to have been formed in the late Cretaceous period. Ninety million years later, its contribution to the economy of the state and the entire nation is unmatched. Based on capital invested, it ranks as the largest oil and gas development in the world. And hundreds of thousands of jobs were, directly and indirectly, created, because of the powerhouse that is the Eagle Ford Shale.
Brian Alfaro is the founder and president of Primera Energy LLC, an oil and gas industry leader in Texas with major operations in the Eagle Ford Shale. Read more about the industry when you visit this blog.
The Eagle Ford Shale is named after the town of the same name where outcrops were first observed. It is a sedimentary rock formation that produces hydrocarbon substances, such as oil and natural gas. It is of utmost significance due to its production capacity, which is greater than many other traditional shale plays.
Image source: wsj.com
Since its discovery in 2008, thousands of wells have been drilled on the 50-mile wide and 400-mile long shale that has a depth of approximately 4,000 to 12,000 feet. Innovation in oil extraction resulted in effective techniques such as horizontal drilling and hydraulic fracturing. And because of such technology, Eagle Ford Shale has been producing 1.5 million barrels of oil per day as of December 2015.
Image source: saconxepts.biz
The shale is believed to have been formed in the late Cretaceous period. Ninety million years later, its contribution to the economy of the state and the entire nation is unmatched. Based on capital invested, it ranks as the largest oil and gas development in the world. And hundreds of thousands of jobs were, directly and indirectly, created, because of the powerhouse that is the Eagle Ford Shale.
Brian Alfaro is the founder and president of Primera Energy LLC, an oil and gas industry leader in Texas with major operations in the Eagle Ford Shale. Read more about the industry when you visit this blog.
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