Eagle Ford Shale fields have recently produced their 1 billionth barrel of oil, something that’s truly a remarkable feat. Not only has the manufacturer produced more oil than many of its competitors, but it has done so in a manner that’s definitely worth emulation.This major milestone could not have been accomplished without high work standards and a dedicated employee base of a number of companies, and there’s quite a bit that others in the oil country tubular goods business can learn from the success of the fields. It seems that if you put your mind to it, you truly can accomplish anything – even if that’s the production of a billion barrels of oil.
If you’re not in the business, you might never have heard of Eagle Ford Shale. This South Texas field is one of the quiet giants of the industry, and its fields have actually reached a billion barrels in record time – only one domestic field has reached the mark faster, as well as one other international field. This makes Eagle Ford Shale’s accomplishment all the more exciting, as their success shows that the American oil market still has a great deal of strength left in it – and that there’s still a long way to go for those willing to put in some hard work.
The area actually hit is mark in November, and was verified by the end of that month. Those within the industry weren’t terribly surprised by the news, but it was still a remarkable occurrence – after all, the billion barrel mark is something to celebrate. Not resting on their laurels after the big number, though, oil companies in the area have continued to move forward to shoot for bigger goals and larger payouts. In their wake, many other companies are heading to the fields of Texas to try their luck again – financial analysts expect around thirty billion dollars to be invested in the field soon.
What’s remarkable about these South Texas fields are how they’ve come to make up a major part of US oil production. The vast majority of the oil pumped out of the fields has been produced in the last two years, and most of the oil that’s come out of the fields actually comes from about ten percent of the wells. That means that not only has production rapidly jumped, but that there are a few wells that have simply hit paydirt while others have been quietly moving along. This just goes to show the unpredictability of the oil business, and how it’s necessary to keep working until one achieves his or her goals.
The billion barrels coming out of Eagle Ford don’t seem like they are slowing down any time soon, and the oil business is going to continue to be big in Texas. Celebrating these milestones is still important, though, as it shows just how strong America’s natural resources are – and just how important they continue to be to the national economy.