Shale Oil Jobs, Opportunity, and Entrepreneurs

The unemployed and those seeking better jobs in South Texas have shifted to become the entrepreneurs of our day.  People are opening RV Parks, Hotels, and restaurants to capitalize on the influx of oil field workers.  If you're looking for Eagle Ford Shale Jobs  or applicants for your open positions, visit our Eagle Ford Shale Jobs Listings. 

"Oil workers are descending on South Texas to drill for oil and natural gas in the Eagle Ford Shale. Their arrival has been a boom for the region and has created entrepreneurs all over the area.""Two things oil workers probably need the most: a place to eat and sleep."

"Hotels and RV parks are springing up in just about every town, big and small."

" Next door to the park, an old country store has been converted into a new restaurant. My Little Angels is just three months old. Business has been so good, owner Becky Romero has had to add five new employees. Because four new rigs are going up close to the restaurant, she is expecting more business."

Read the full news release at ksat.com

NY Times Ignored Shale Oil Economics

The New York Times article, that has gotten more publicity than it deserves, failed to mention the thriving economics of the booming shale oil plays.  The Eagle Ford Shale and Bakken Shale both look good under current commodity prices.  There are also many other liquids-rich plays, like the Granite Wash, that are activity drilled even at today's natural gas prices.

"But the articles largely ignore the economics of the Eagle Ford Shale and other unconventional fields that produce large amounts of high-value oil, condensate and natural gas liquids such as butane, ethane and propane. In general, exploration and production firms have shifted production from dry-gas fields to liquids-rich plays that offer superior profitability. Many investors have picked up on this distinction; stocks of companies that have failed to make this transition have underperformed.""Many leasing contracts require operators to sink a commercially viable well within an established period to secure the acreage."

"This involuntary drilling activity catalyzed a wave of joint ventures and acquisitions that have occurred in recent years--an important source of capital to support these programs. Many of the acquirers are large, integrated energy companies that boast bulletproof balance sheets and can afford to take a long-term view on natural gas prices and demand."

"For example, Marathon Oil Corp (NYSE: MRO) paid $3.5 billion for 141,000 acres (about $21,000 per acre) in the Eagle Ford Shale from Hilcorp Resources Holdings LP. The deal surpassed Korea National Oil Corp paid $16,000 per acre to Anadarko Petroleum Corp (NYSE: APC) to establishing a foothold in this hot shale play."

Read the full news release at investingdaily.com

US Crude Oil Production Rising as Shale Oil Booms

U.S. crude oil production has risen over 10% in the past two years. We expect this growth will continue with booming oil plays like the Eagle Ford Shale in Texas and the Bakken Shale in North Dakota.  Add the Niobrara Shale, the Avalon Shale, Wolfberry, and Bone Spring in West Texas, with the Mississippian oil Play and Oklahoma and we're set to see domestic crude coming to market.

"Between 2008 and the end of 2010, domestic crude oil production rose more than 11% and production of natural gas liquids (NGLs) grew by more than 12%. The increase in US production made up for about half of the decline in petroleum imports (1.7 million barrels per day) over this time period. Of this production, about 94% was delivered not by Big Oil, but by many independent oil and gas producers (such as Energen, Linn Energy, NGAS Resources, and Questar)."

"In 2010 domestically produced oil and NGLs hit 7.5 million barrels per day, the highest output in eight years. The increase in production led to a reduction of net imports of crude oil and NGLs to 9.4 million barrels per day, the lowest figure in 13 years."

"A report by Credit Suisse analysts in March forecasted that the US will be producing an additional 2.5 million barrels per day by 2016, based on the development of new onshore fields (such as the Bakken shale in North Dakota and the Eagle Ford shale in Texas) and deepwater projects in the Gulf of Mexico."

Read the full news release at bizmology.com

San Antonio's Energy Future Spelled "Oil & Gas"

San Antonio's Energy industry has been a top priority for several years, but the discovery of the Eagle Ford Shale will prove to outweigh the hopes of any who wanted to brand the town as a renewable energy city.  While it will be great to have the new companies relocating in Texas, don't be surprised if their impact is dwarfed by the oil companies in the Eagle Ford.

"Turning San Antonio into a renewable energy and sustainable development hub has been on Mayor Julián Castro's agenda since 2001, and Friday, he and local industry leaders gave the nation a glimpse of how the city is adopting sustainable energy while witnessing a boom in conventional fuel exploration in the nearby Eagle Ford shale.""Castro called in to Ira Flatow's National Public Radio's 'Talk of the Nation: Science Friday' program, which was broadcast from the Witte Museum. Castro told the audience he wants to make San Antonio 'the new energy capital of the world,' a declaration that echoes his announcement in June that four clean energy-related companies intend to move their headquarters to San Antonio."

"The move, Castro hopes, will be a step forward in solidifying San Antonio as the nation's leader in clean energy."

Read the full news release at mysanantonio.com

Eagle Ford Rig Count - July 8, 2011

Small wellhead sillouhette

The Eagle Ford Shale rig count remained flat at 222 active drilling rigs. The gas rig count remained at 111 rigs drilling, while the oil rig count was unchanged at 110 active rigs. One rig in La Salle County is drilling an injection well.  Horizontal rigs account for 201 of the 222 rigs drilling in the South Texas region. With oil prices hovering around $100 per barrel don't expect the rig count to back off any time soon. Stay tuned each week for an update on the South Texas rig count.  Better yet, Subscribe by RSS or Subscribe by Email.

Drilling Rig Count by County

What is the Rig Count?

The Eagle Ford Shale Rig Count is an index of the total number of oil & gas drilling rigs running across a 30 county area in South Texas.  The South Texas rig count referred to in this article is for ALL drilling reported by SmithBits and not solely wells targeting the Eagle Ford Shale.

All land rig count and onshore rig data shown here are based upon industry estimates provided by the Baker Hughes Rig Count and/or Smith Service Co's (Schlumberger) Smith Rig Count.