CINXE.COM

<?xml version="1.0" encoding="UTF-8"?> <rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" > <channel> <title>Aresco</title> <atom:link href="http://www.arescotx.com/feed/" rel="self" type="application/rss+xml" /> <link>http://www.arescotx.com</link> <description></description> <lastBuildDate>Fri, 23 May 2014 22:06:14 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod>hourly</sy:updatePeriod> <sy:updateFrequency>1</sy:updateFrequency> <generator>http://wordpress.org/?v=3.9.1</generator> <item> <title>Eagle Ford Shale Boom May Soon Cross Mexican Border</title> <link>http://www.arescotx.com/eagle-ford-shale-boom-may-soon-cross-mexican-border/</link> <comments>http://www.arescotx.com/eagle-ford-shale-boom-may-soon-cross-mexican-border/#comments</comments> <pubDate>Tue, 20 May 2014 21:33:47 +0000</pubDate> <dc:creator><![CDATA[SEOadmin]]></dc:creator> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Texas Oil and Gas Investing]]></category> <category><![CDATA[Eagle Ford Shale]]></category> <category><![CDATA[Mexico Eagle Ford]]></category> <category><![CDATA[Pemex]]></category> <category><![CDATA[Voestalpine]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3860</guid> <description><![CDATA[Back in the primordial times of 2010, the Eagle Ford Shale formation had an output of 55,000 barrels per day of crude oil and condensate. That volume shot to 1.36 million barrels per day in April 2014 and will soon hit 1.5 million. That rapid production spike is reshaping the South Texas economy. It’s this […]]]></description> <content:encoded><![CDATA[<a href="http://www.arescotx.com/mexicos-eagle-ford-gain-to-reap-texas-reward/mexico-eagle-ford-shale/" target="_blank" rel="attachment wp-att-3706"><img class="alignleft wp-image-3706 size-full" style="border: 0px none; margin: 5px 10px;" title="Mexico Eagle Ford Shale" src="http://www.arescotx.com/wp-content/uploads/mexico-eagle-ford-shale.jpg" alt="mexico-eagle-ford-shale" width="275" height="200" /></a>Back in the primordial times of 2010, the <a title="Eagle Ford Shale" href="http://www.arescotx.com/tag/eagle-ford-shale/">Eagle Ford Shale</a> formation had an output of 55,000 barrels per day of crude oil and condensate. That volume shot to 1.36 million barrels per day in April 2014 and will soon hit 1.5 million. That rapid production spike is reshaping the South Texas economy. It’s this kind of economic dynamism that is breeding optimism among Mexican officials. The Eagle Ford shale formation is believed to stretch hundreds of miles into Mexico. The nation’s shale gas reserves are estimated to be the world’s sixth largest after China, Argentina, Algeria, the U.S., and Canada. In South Texas there’s brisk demand for skilled workers including welders, pipefitters, computer numerical control lathe operators, and quality control technicians. The manufacturing sector is exploding. <a href="http://www.prweb.com/releases/2014/05/prweb11816478.htm" target="_blank">This according to a study</a> by the Texas A&M Engineering Extension Service (TEEX) in cooperation with the U.S. Economic Development Administration. The boom’s shock wave is reverberating beyond the Lone Star State’s borders. <a title="Bonanza on the Eagle Ford Shale" href="http://www.washingtontimes.com/news/2014/apr/15/triplett-bonanza-on-the-eagle-ford-shale/?page=all" target="_blank">Across the U.S. trucking companies</a> are reeling from a driver shortage as truckers flock to South Texas, lured by $5,000 signing bonuses to haul sand, gravel, water, pipe, and other materials needed at drilling sites. One hundred miles away, the Eagle Ford boom is driving a massive construction surge in Corpus Christi. In April 2014, the Austrian steel giant Voestalpine <a title="Corpus Christi Direct Reduction Plant" href="http://www.voestalpine.com/blog/en/innovation-en/groundbreaking-ceremony-new-direct-reduction-plant-corpus-christi/" target="_blank">broke ground in the coastal city on a new billion-dollar iron ore plant</a>—the largest foreign investment in the history of the firm. Beginning operations in early 2016, the plant will have a production capacity of some 2 million tons of hot briquetted iron. <a title="Eagle Ford Exports Spur Boom at Port of Corpus Christi" href="http://www.bloomberg.com/news/2014-04-10/eagle-ford-s-exports-spur-boom-at-port-of-corpus-christi.html" target="_blank">The gush of low density, low sulfur Eagle Ford crude</a> is overwhelming the city’s refineries (two of the three refineries were designed to process thick, high-sulfur crude), consumed all available dock capacity, and is triggering a wave of new dock construction. While the U.S. and Canada are developing their shale resources on a massive scale, those in Mexico languish. More than 5,400 wells have been sunk on the Texas side of Eagle Ford since 2008, while Mexico has attempted fewer than 25. That’s why last December the General Congress of the United Mexican States approved a <a title="Mexican Senate approves changes to oil industry" href="http://www.washingtonpost.com/world/mexican-senate-approves-changes-to-oil-industry/2013/12/11/e3946674-6274-11e3-af0d-4bb80d704888_story.html" target="_blank">landmark energy bill</a>. The measure will open up Mexico’s petroleum industry to private and foreign investment for the first time in 75 years. It was drafted with the intent of injecting <a title="Pemex" href="http://www.arescotx.com/tag/pemex/">Pemex</a>, Mexico’s state-owned petroleum monopoly, with the new technology, expertise, and risk-taking culture it has long lacked. Pemex estimates that the nation’s shale formations hold the energy equivalent of <a title="The fracking divide: Mexico’s oil frontier beckons U.S. drillers in wake of new law" href="http://www.washingtonpost.com/world/the_americas/the-fracking-divide-mexicos-oil-frontier-beckons-us-drillers-in-wake-of-new-law/2014/04/19/1951ba0c-e8ff-452d-84bd-d488f730991c_story.html" target="_blank">60 billion barrels of oil</a>—more than the entire volume Mexico has extracted via conventional means since 1904. Total untapped Mexican oil reserves are estimated to be worth at least $11 trillion, more than any Latin American nation, save for Venezuela and Brazil. But will the U.S. and other firms who have poured into South Texas cross the border into Mexico? Development of Northern Mexico’s shale beds presents steep challenges. Dominated by smaller, nimble players, the shale development process is dependent on specialized equipment and services that must be deployed at precise moments in the drilling process. Mexico is utterly lacking in this network of technological resources. The area is also void of the pipelines, highways, shipping, power, and other infrastructure that spans across south Texas. But these challenges may soon be overcome, conquered by the sheer immensity of Mexico’s resource potential. <hr /> <a title="Texas Oil & Gas Investment Opportunities" href="http://www.arescotx.com/oil-gas-interests-explored-pathways-to-profit/">Texas Oil & Gas Investment Opportunities</a> <hr /> ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/eagle-ford-shale-boom-may-soon-cross-mexican-border/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Aresco LP purchases position in Halcón wells in Southeast Texas’ Brazos Basin</title> <link>http://www.arescotx.com/aresco-lp-purchases-position-in-halcon-wells-in-southeast-texas-brazos-basin/</link> <comments>http://www.arescotx.com/aresco-lp-purchases-position-in-halcon-wells-in-southeast-texas-brazos-basin/#comments</comments> <pubDate>Mon, 19 May 2014 22:08:49 +0000</pubDate> <dc:creator><![CDATA[SEOadmin]]></dc:creator> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Texas Oil and Gas Investing]]></category> <category><![CDATA[Brazos Basin]]></category> <category><![CDATA[Halcón]]></category> <category><![CDATA[Woodbine Sands]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3851</guid> <description><![CDATA[(Dallas, Texas) –– Aresco LP, a privately held Dallas-based exploration and production company, announced today the purchase of non-operated working interest positions in three producing wells located in Tyler and Madison Counties, Texas. The Brazos Basin wells are operated by Halcón Resources and are currently producing a combined ~227 gross barrels of oil per day […]]]></description> <content:encoded><![CDATA[<a title="Brazos Basin Oil Wells" href="http://www.arescotx.com/aresco-lp-purchases-position-in-halcon-wells-in-southeast-texas-brazos-basin/brazos-basin-oil-wells/" target="_blank" rel="attachment wp-att-3853"><img class="alignleft size-full wp-image-3853" style="border: 0px none; margin: 5px 10px;" alt="Brazos Basin Oil Wells" src="http://www.arescotx.com/wp-content/uploads/brazos-basin-oil-wells.jpg" width="200" height="266" /></a>(Dallas, Texas) –– Aresco LP, a privately held Dallas-based exploration and production company, announced today the purchase of non-operated working interest positions in three producing wells located in Tyler and Madison Counties, Texas. The <a title="Brazos Basin" href="http://www.arescotx.com/tag/brazos-basin/">Brazos Basin</a> wells are operated by Halcón Resources and are currently producing a combined ~227 gross barrels of oil per day per 90-day trailing average. “Our strategy of using our operational expertise to select and partner with experienced operators has proven effective in building a solid asset base,” said <a title="Brandon Laxton" href="http://www.linkedin.com/pub/brandon-laxton/37/b5/a96" target="_blank">Brandon Laxton</a>, President and CEO of Aresco LP. “Since applying this methodology, Aresco has grown to include assets in five counties across Texas and into New Mexico. These assets not only provide revenue today, they set the stage for additional development opportunities for decades to come.” Tyler and Madison Counties sit atop the <a title="Brazos Basin" href="http://www.arescotx.com/tag/brazos-basin/">Brazos Basin</a>, which features a mix of Woodbine sands and <a title="Eagle Ford Shale Production" href="http://www.arescotx.com/tag/eagle-ford-shale-production/">Eagle Ford shale production</a> potential. The Brazos Basin lies at the southern edge of the historic East Texas Basin in southeast Texas. While conventional oil producers have targeted the East Texas <a title="Woodbine Sands" href="http://www.arescotx.com/tag/woodbine-sands/">Woodbine sands</a> for decades, modern unconventional technology is unlocking additional production potential as operators explore deeper, shale-like rock. The Halcón well production is the first of several potential acquisitions Aresco is pursuing specifically in the Brazos Basin. About Aresco LP Aresco LP is a privately held exploration and production company actively engaged in developmental drilling, mineral leasing, and production acquisitions in conventional and unconventional oil plays throughout Texas, Oklahoma and New Mexico. The company specializes in production-driven projects designed to provide income stability and strong growth potential. Aresco’s asset portfolio provides a strong balance of ownership positions in rapidly developing conventional formations and development projects in proven oilfields with decades of active drilling and production. To learn more, please visit <a title="Aresco LP" href="http://www.arescotx.com/">www.arescotx.com</a>. ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/aresco-lp-purchases-position-in-halcon-wells-in-southeast-texas-brazos-basin/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Boom Stresses Expose Rich Permian Opportunities</title> <link>http://www.arescotx.com/boom-stresses-expose-rich-permian-opportunities/</link> <comments>http://www.arescotx.com/boom-stresses-expose-rich-permian-opportunities/#comments</comments> <pubDate>Wed, 14 May 2014 15:32:27 +0000</pubDate> <dc:creator><![CDATA[SEOadmin]]></dc:creator> <category><![CDATA[New Mexico Oil and Gas Investing]]></category> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Texas Oil and Gas Investing]]></category> <category><![CDATA[Drilling Technology]]></category> <category><![CDATA[Horizontal Drilling]]></category> <category><![CDATA[Hydraulic Fracturing]]></category> <category><![CDATA[Permian Basin]]></category> <category><![CDATA[Unconventional Drilling]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3803</guid> <description><![CDATA[Increasing oil and gas production from the Eagle Ford formation and the Permian Basin has propelled Texas passed yet another petroleum milestone. If it were its own “kingdom,” the Lone Star State would rank as the 9th largest oil-producing nation in the world. Texas leapt passed oil giants like Nigeria, Mexico, Kuwait, Brazil and Venezuela […]]]></description> <content:encoded><![CDATA[<a title="Permian Basin Energy Production" href="http://www.arescotx.com/permian-rising-booming-energy-production-driving-tx-nm-economies/permian-basin-energy-production/" target="_blank" rel="attachment wp-att-3586"><img class="alignleft wp-image-3586" style="border: 0px none; margin: 5px 10px;" alt="Permian Basin Energy Production" src="http://www.arescotx.com/wp-content/uploads/permian-basin-energy-production-300x225.jpg" width="240" height="180" /></a>Increasing oil and gas production from the Eagle Ford formation and the Permian Basin has propelled Texas passed yet another petroleum milestone. If it were its own “kingdom,” the Lone Star State would rank as the <a title="Oil and Gas Boom in Texas" href="http://www.forbes.com/sites/davidblackmon/2014/01/09/oil-gas-boom-2014-a-great-time-to-be-a-texan/" target="_blank">9th largest oil-producing nation in the world</a>. Texas leapt passed oil giants like Nigeria, Mexico, Kuwait, Brazil and Venezuela moving solidly into the oil producing top ten in the twelve months preceding September 2013. Texas is on deck to surpass OPEC giants Iran, Iraq, and the United Arab Emirates if current production trends maintain their momentum. Much of this success is owing to the geologically opportune <a title="Permian Basin" href="http://www.arescotx.com/tag/permian-basin/">Permian Basin</a>, where crude production is expanding rapidly. With output surpassing 1.5 million barrels per day, the Permian already represents close to one-fifth of total U.S. crude output. But production success is exacting a toll on the West Texas economic eco-system. <a title="Shortage of labor in the Permian Basin" href="http://www.oaoa.com/business/article_ad538f62-d313-11e3-bb47-001a4bcf6878.html" target="_blank">Labor supplies</a> are tight. Recruitment of skilled professionals such as geological and petroleum technicians as well as engineers is a formidable challenge. Residential and commercial real estate supplies are squeezed and priced at a premium. Producers attempting to get supplies to market are <a title="congested permian basin oil pipelines" href="http://blogs.platts.com/2014/04/21/oil-permian-pipelines/" target="_blank">confronting congested pipelines</a>, outstripping an aggressive scheme to add new takeaway capacity. These constraints are forcing producers to negotiate what has become a critical and delicate <a title="Permian crude oil gathering system" href="http://www.ogfj.com/articles/2014/04/building-out-the-permian-crude-oil-gathering-system-part-2.html" target="_blank">balance between supplies and takeaway infrastructure</a>. But the balancing act may be short lived, as cutting edge technologies unlock more petroleum resources in the Permian Basin’s rich geological layering. <a title="Oil Rig 3D Video Tour" href="http://www.arescotx.com/photos-videos/" target="_blank"><img class="alignright size-full wp-image-3769" style="border: 0px none; margin: 5px 10px;" alt="rig-presentation" src="http://www.arescotx.com/wp-content/uploads/rig-presentation1.jpg" width="222" height="222" /></a>In <a title="Permian oil town Carlsbad New Mexico" href="http://abcnews.go.com/Technology/wireStory/mexico-oil-country-struggles-cities-boom-23626554" target="_blank">Carlsbad New Mexico</a>, centered on one of the most productive regions on the Permian, getting a hamburger at the local McDonald’s is an ordeal fraught with tribulation. Recent discoveries of rich, promising fields in the Southeastern portions of the state, coupled with advances in extracting technologies, have turned once sleepy hamlets like Carlsbad into bustling boomtowns. And there’s no indication Permian production will tap out anytime soon. Because producing formations in the Permian are vertically stacked atop one another, companies are able to wring oil from varying depths with a single vertical well. Some parts of the Permian have formations spanning 1,300 to 1,800 feet in thickness, akin to having more than a dozen Bakken Shales stacked one-over the other. Thus, current activity focuses on these “stacked” formations where techniques such as vertical drilling, <a title="Horizontal Drilling" href="http://www.arescotx.com/tag/horizontal-drilling/">horizontal drilling</a>, and <a title="enhanced oil recovery systems" href="http://www.ogfj.com/articles/2014/04/building-out-permian-crude-gathering-systems-part-2.html" target="_blank">enhanced oil recovery (EOR)</a> are being deployed. Some analysts are predicting double digit year-over-year increases in Permian production over the next several years. In fact some experts are saying the <a title="Eagle Ford Shale" href="http://www.arescotx.com/tag/eagle-ford-shale/">Eagle Ford Shale</a> and <a title="Bakken Shale" href="http://www.arescotx.com/tag/bakken-shale/">Bakken Shale</a> areas will top out long before the <a title="Permian Basin" href="http://www.arescotx.com/tag/permian-basin/">Permian Basin</a> loses steam. <a title="Oil and Gas Investing" href="http://www.arescotx.com/oil-gas-interests-explored-pathways-to-profit/" target="_blank"><img class="alignleft size-full wp-image-2610" style="border: 0px none; margin: 5px 10px;" alt="Oil and Gas Investing" src="http://www.arescotx.com/wp-content/uploads/pathways-to-profit1.jpg" width="222" height="137" /></a>Yet these growing pains are exposing a wealth of robust opportunities. <a title="Permian Basin real estate opportunities" href="http://www.businesswire.com/news/home/20140421005390/en/TAYO-Oil-Gas-Boom-Creates-Unprecedented-Real#.U3OHOSg4w1J" target="_blank">Taylor Consulting is predicting</a> an unprecedented real estate boom in cities and towns along the Permian. Obviously these production growing pains are fertile ground for midstream companies. But these pains will also be a <a title="Permian Basin helping oilfield services companies" href="http://www.forbes.com/sites/greatspeculations/2014/03/17/why-the-shift-to-unconventionals-in-the-permian-will-help-oilfield-services-companies/" target="_blank">boon to oilfield services companies</a> as producers look to maximize mature wells with technologies such as carbon dioxide flooding, and ramp up exploration and production of unconventional hydrocarbons. No matter how you stack it, the <a title="Permian Basin" href="http://www.arescotx.com/tag/permian-basin/">Permian Basin</a> is experiencing an unprecedented resource renaissance—one with bankable stamina. ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/boom-stresses-expose-rich-permian-opportunities/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Mexico’s Eagle Ford Gain to Reap Texas Reward</title> <link>http://www.arescotx.com/mexicos-eagle-ford-gain-to-reap-texas-reward/</link> <comments>http://www.arescotx.com/mexicos-eagle-ford-gain-to-reap-texas-reward/#comments</comments> <pubDate>Wed, 23 Apr 2014 00:01:41 +0000</pubDate> <dc:creator><![CDATA[SEOadmin]]></dc:creator> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Eagle Ford Shale]]></category> <category><![CDATA[Eagle Ford Shale Production]]></category> <category><![CDATA[Energy Information Administration (EIA)]]></category> <category><![CDATA[Mexico National Hydrocarbons Commission]]></category> <category><![CDATA[Pemex]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3701</guid> <description><![CDATA[Two potentially propitious forces are converging in Eagle Ford: one geological, the other political. This revolutionary convergence could be a boon for Texas. Though most of it lies underground in the Lone Star State, the rich Eagle Ford Shale formation doesn’t terminate at the border. It extends well into Mexico. Now, as Eagle Ford and […]]]></description> <content:encoded><![CDATA[<a title="Mexico Eagle Ford Shale Oil Production" href="http://www.arescotx.com/mexicos-eagle-ford-gain-to-reap-texas-reward/mexico-eagle-ford-shale/" target="_blank" rel="attachment wp-att-3706"><img class="alignleft size-full wp-image-3706" style="border: 0px none; margin: 5px 10px;" alt="mexico-eagle-ford-shale" src="http://www.arescotx.com/wp-content/uploads/mexico-eagle-ford-shale.jpg" width="275" height="200" /></a>Two potentially propitious forces are converging in Eagle Ford: one geological, the other political. This revolutionary convergence could be a boon for Texas. Though most of it lies underground in the Lone Star State, the rich Eagle Ford Shale formation doesn’t terminate at the border. It extends well into Mexico. Now, as <a title="Eagle Ford Shale" href="http://www.arescotx.com/tag/eagle-ford-shale/">Eagle Ford</a> and other vast shale plays in Mexico are tapped, U.S. companies and their concomitant technologies—as well as the state of Texas itself—stand to reap huge rewards. What’s driving this shift? Late last year, the Mexican government lifted a 75-year-old ban on foreign investment in its energy sector. Mexico President Enrique Peña Nieto called the landmark energy reforms Mexico’s most significant economic move in half a century. The objective is to boost the country’s petroleum production, which has been in <a title="Mexico Oil Production" href="http://www.eia.gov/countries/analysisbriefs/Mexico/Mexico.pdf" target="_blank">steady decline for a decade</a>. According to Mexico’s National Hydrocarbons Commission, opening up the energy sector could raise as much as $30 billion annually in investment. The most promising areas include shale oil and gas development, pipeline construction, and expanding and improving the country’s electric power grid—areas where U.S. firms are uniquely suited. These dramatic reforms promise to be a game changer for Mexico as it boosts the industrialization of its economy and revitalizes its sagging oil industry. <a title="Pemex Oil - Mexico" href="http://www.arescotx.com/mexicos-eagle-ford-gain-to-reap-texas-reward/pemex/" target="_blank" rel="attachment wp-att-3708"><img class="alignright size-full wp-image-3708" style="border: 0px none; margin: 5px 10px;" alt="Pemex Oil - Mexico" src="http://www.arescotx.com/wp-content/uploads/pemex.jpg" width="250" height="168" /></a>Mexico’s archaic laws left petroleum exploration, recovery, and sale under the tight control of the Mexican State Oil Monopoly: Pemex. But <a title="Pemex" href="http://www.arescotx.com/tag/pemex/">Pemex</a> succumbed to corruption in recent years and failed to invest in its vast energy resources. The company also suffered from the Mexican government’s reliance on Pemex revenues, which funded a third of the federal budget. This financial dependence chronically starved Pemex of development capital. Thus despite its position as one of the world’s largest oil companies, <a title="Pemex" href="http://www.arescotx.com/tag/pemex/">Pemex</a> lacks the technical expertise to cope with its shale resources just south of Texas’ booming Eagle Ford fields, and its deep-water oil reserves in Gulf of Mexico. In fact, the resource-rich nation was forced to import more than 600 billion cubic feet of natural gas from the U.S. last year, a figure nearly twice what the country imported in 2010. Without these reforms, Mexican officials feared the country’s estimated <a title="Mexico Oil and Gas Production" href="http://www.forbes.com/sites/christopherhelman/2013/10/30/mexicos-enrique-pena-nieto-is-leading-an-oil-revolution-worth-billions/" target="_blank">30 billion barrels of oil and more than 500 trillion cubic feet of natural gas</a> would remain forever locked in rock. Mexico’s portion of the Eagle Ford Shale formation could hold as much as 10 percent of the world’s recoverable shale oil reserves. The latest report from <a title="U.S. Energy Information Administration" href="http://www.eia.gov/" target="_blank">U.S. Energy Information Administration</a> estimates recoverable Eagle Ford reserves at <a title="Mexican Eagle Ford Oil Estimates" href="http://zaragozaresources.com/?p=609" target="_blank">443 trillion cubic feet and 6.3 billion barrels of oil</a>. Pemex will remain a major player in Mexico’s energy sector under the terms of the reforms even as it surrenders monopoly control (Pemex has a stake with Royal Dutch Shell in a refinery in Deer Park, Texas). <a title="Pemex CEO on Mexico Oil Reforms" href="http://www.forbes.com/sites/christopherhelman/2013/10/30/forbes-qa-pemex-ceo-very-confident-in-mexico-oil-reforms/" target="_blank">Pemex CEO Emilio Lozoya Austin</a> expects Mexico’s petroleum production to reach 3 million barrels per day of oil and natural gas equivalents by 2018. He anticipates that production rate will top 3.5 million barrels per day within 10 years. <hr /> <a title="Texas Oil & Gas Investment Opportunities" href="http://www.arescotx.com/oil-gas-interests-explored-pathways-to-profit/">Texas Oil & Gas Investment Opportunities</a> <hr /> ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/mexicos-eagle-ford-gain-to-reap-texas-reward/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Unconventional Processes are Driving Permian Basin Riches</title> <link>http://www.arescotx.com/unconventional-processes-are-driving-permian-basin-riches/</link> <comments>http://www.arescotx.com/unconventional-processes-are-driving-permian-basin-riches/#comments</comments> <pubDate>Mon, 21 Apr 2014 06:00:00 +0000</pubDate> <dc:creator><![CDATA[SEOadmin]]></dc:creator> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Bakken Shale]]></category> <category><![CDATA[Domestic Oil Production]]></category> <category><![CDATA[Fracking]]></category> <category><![CDATA[Horizontal Drilling]]></category> <category><![CDATA[Hydraulic Fracturing]]></category> <category><![CDATA[Unconventional Drilling]]></category> <category><![CDATA[Vertical Rigs]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3693</guid> <description><![CDATA[Orthodoxy is slowly being jettisoned in the Permian Basin. As the oldest and most prolific hydrocarbon-producing region in the United States, the Permian is undergoing a surge in unconventional drilling. Traditional vertical rigs represented 80 percent of the regions rig count in February 2011. That figure plunged to just 42 percent by the end of […]]]></description> <content:encoded><![CDATA[<a title="Permian Basin Shale Oil Unconventional Drilling" href="http://www.arescotx.com/permian-basin-on-track-to-be-top-shale-oil-producer/permian-basin-shale-oil/" target="_blank" rel="attachment wp-att-3039"><img class="alignleft size-full wp-image-3039" style="border: 0px none; margin: 5px 10px;" alt="Permian Basin Shale Oil Unconventional Drilling" src="http://www.arescotx.com/wp-content/uploads/permian-basin-shale-oil.jpg" width="225" height="225" /></a>Orthodoxy is slowly being jettisoned in the <a title="Permian Basin" href="http://www.arescotx.com/tag/permian-basin/">Permian Basin</a>. As the oldest and most prolific hydrocarbon-producing region in the United States, the Permian is undergoing a surge in <a title="Unconventional Drilling" href="http://www.arescotx.com/tag/unconventional-drilling/">unconventional drilling</a>. Traditional vertical rigs represented 80 percent of the regions rig count in February 2011. That figure plunged <a title="Permian Basin Overview" href="http://www.energyeconomist.com/a6257783p/exploration/detail/permian/Permian_Basin_Overview.html" target="_blank">to just 42 percent</a> by the end of the second week of April 2014. What’s driving the surge in unconventional production? Higher oil prices coupled with rich opportunities to significantly boost resource extraction are transforming the region, which began producing more than 90 years ago. To this add a cascade of technological breakthroughs that have dramatically shifted the production equation over the last half-decade. Example: the vast plains near Odessa and Midland—once fertile ground for conventional vertical rigs—were long considered past their prime. Today these stretches represent some of the most valuable land in the U.S. Unconventional formations have risen to prominence in the Permian’s exploratory and production calculus; a dynamic that is attracting an <a title="Permian Basin Drilling Permits Issued" href="http://www.rrc.state.tx.us/permianbasin/PBdrillingpermitsissued.pdf" target="_blank">abundance in investment capital</a>. Why the shift? The Permian Basin was long dominated by conventional drilling and production techniques since the area began producing more than 90 years ago. In conventional drilling processes, hydrocarbons are forced to the wellhead naturally, or with the assistance of pumps. But the Permian Basin holds vastly more hydrocarbon deposits locked in shale formations. These formations demand far more complex, expensive recovery techniques than conventional vertical rigs, techniques such as <a title="Horizontal Drilling" href="http://www.arescotx.com/tag/horizontal-drilling/">horizontal drilling</a> and fracking. Typically in shale formations, oil and gas are trapped inside pores in the rock. To force the hydrocarbons from the rock, a mixture of water, sand and additives are pumped into the well at very high pressures. These pressurized forces drive cracks in the rock, releasing the embedded hydrocarbon deposits. <a title="Horizontal Drilling - Hydraulic Fracturing" href="http://www.arescotx.com/unconventional-processes-are-driving-permian-basin-riches/horizontal-drilling-hydraulic-fracturing/" target="_blank" rel="attachment wp-att-3697"><img class="aligncenter size-full wp-image-3697" style="border: 0px none; margin: 5px 10px;" alt="horizontal-drilling-hydraulic-fracturing" src="http://www.arescotx.com/wp-content/uploads/horizontal-drilling-hydraulic-fracturing.jpg" width="600" height="303" /></a> How unconventional are the Permian unconventional plays? While the Bakken Shale formations cover 10 to 20 feet in thickness, and formations in Texas’ <a title="Eagle Ford Shale" href="http://www.arescotx.com/tag/eagle-ford-shale/">Eagle Ford Shale</a> formation range from 150 to 300 feet in thickness, <a title="Permian Basin Hydrocarbon Producing Zone" href="http://www.trefis.com/stock/bhi/articles/230410/why-the-shift-to-unconventionals-in-the-permian-will-help-oilfield-services-companies/2014-03-14" target="_blank">some parts of the Permian span in thickness from 1,300 to 1,800 feet</a>. This is akin to a dozen Bakken shales stacked on top of one another. These layers are so rich that some Permian Basin plays are thought to hold some 75 billion barrels of oil in the stacked stone and earth. Unconventional techniques have driven <a title="Domestic Oil Production" href="http://www.arescotx.com/tag/domestic-oil-production/">domestic oil production</a> up sharply. Across Texas and New Mexico, Permian crude production has surged from 843,000 barrels per day in January 20008, to more than 1.3 million barrels per day in January 2014. Some projections posit that there is another 1.6 million barrels per day of crude oil capacity that could come on line by 2015. The only challenge that could possibly stifle the pace of production growth is a lack of adequate infrastructure and takeaway capacity, particularly in emerging areas of the Permian. Yet the promise of vast resource riches in unrealized potential is very real. Especially when one crucial element is figured into the calculus: operators are still learning how to tightly pack wells together to match the subsurface stacks of rock that hold untapped barrels of oil numbering in the billions. <hr /> <a title="Texas Oil & Gas Investment Opportunities" href="http://www.arescotx.com/oil-gas-interests-explored-pathways-to-profit/">Texas Oil & Gas Investment Opportunities</a> <hr /> ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/unconventional-processes-are-driving-permian-basin-riches/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>New study backs future crude oil exports from the Gulf Coast</title> <link>http://www.arescotx.com/new-study-backs-future-crude-oil-exports-from-the-gulf-coast/</link> <comments>http://www.arescotx.com/new-study-backs-future-crude-oil-exports-from-the-gulf-coast/#comments</comments> <pubDate>Thu, 17 Apr 2014 14:18:17 +0000</pubDate> <dc:creator><![CDATA[SEOadmin]]></dc:creator> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Domestic Oil Production]]></category> <category><![CDATA[Permian Basin]]></category> <category><![CDATA[Sweet Crude Oil]]></category> <category><![CDATA[U.S. Oil Production]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3687</guid> <description><![CDATA[by Jordan Blum ~ Reporter, Houston Business Journal Lifting the crude oil export ban in the U.S. would lead to thousands of new Gulf Coast jobs — particularly for Houston energy companies — and could even lower the price of domestic fuels, according to a new study sponsored by the American Petroleum Institute. The U.S. […]]]></description> <content:encoded><![CDATA[<a title="Gulf Coast Oil" href="http://www.arescotx.com/new-study-backs-future-crude-oil-exports-from-the-gulf-coast/gulf-coast-oil/" target="_blank" rel="attachment wp-att-3689"><img class="alignleft wp-image-3689" style="border: 0px none; margin: 5px 10px;" alt="gulf-coast-oil" src="http://www.arescotx.com/wp-content/uploads/gulf-coast-oil.jpg" width="280" height="210" /></a>by Jordan Blum ~ Reporter, Houston Business Journal Lifting the crude oil export ban in the U.S. would lead to thousands of new Gulf Coast jobs — particularly for Houston energy companies — and could even lower the price of domestic fuels, according to a new study sponsored by the <a title="American Petroleum Institute" href="http://www.bizjournals.com/profiles/company/us/dc/washington/american_petroleum_institute/3256208" target="_blank">American Petroleum Institute</a>. The U.S. is poised to soon become the world’s top producer of oil, largely because of tight oil production in the shale plays in Texas’ <a title="Permian Basin" href="http://www.arescotx.com/tag/permian-basin/" target="_blank">Permian Basin</a> and more. “It’s a new era for American energy,” said Kyle Isakower, API vice president for regulatory and economic policy, arguing that U.S. energy policy is “stuck in the 1970s.” Citing the new <a title="ICF International" href="http://www.bizjournals.com/profiles/company/us/va/fairfax/icf_international_inc/1842564" target="_blank">ICF International</a> study, Isakower made the case that the U.S. must start exporting some of the light sweet crude oil being produced domestically while still importing the heavy crude oil needed in Gulf Coast refineries. Sweet crude is the most common type of oil being produced from domestic shale plays, but most coastal refineries currently rely on heavier forms of crude. Sweet crude is considered more valuable, though, and could be in greater demand internationally. If the ban is lifted, the study projects that the U.S. would be exporting 2.1 million barrels of crude oil a day and then begin to level off. The report also noted that an expansion of crude exports would result in $15 billion to $70 billion in additional investment in U.S. exploration, development and production of crude oil between 2015 and 2020. That could mean an additional 300,000 U.S. by 2020. <a title="Houston Business Journal" href="http://www.bizjournals.com/houston/news/2014/03/31/new-study-backs-future-crude-oil-exports-from-the.html?page=all" target="_blank">Continue reading at Houston Business Journal …</a> ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/new-study-backs-future-crude-oil-exports-from-the-gulf-coast/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Five states and the Gulf of Mexico produce more than 80% of U.S. crude oil</title> <link>http://www.arescotx.com/five-states-and-the-gulf-of-mexico-produce-more-than-80-of-u-s-crude-oil/</link> <comments>http://www.arescotx.com/five-states-and-the-gulf-of-mexico-produce-more-than-80-of-u-s-crude-oil/#comments</comments> <pubDate>Thu, 10 Apr 2014 13:23:57 +0000</pubDate> <dc:creator><![CDATA[SEOadmin]]></dc:creator> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Texas Oil and Gas Investing]]></category> <category><![CDATA[Energy Information Administration (EIA)]]></category> <category><![CDATA[Investing in Texas Oil]]></category> <category><![CDATA[Oil Production]]></category> <category><![CDATA[Permian Basin]]></category> <category><![CDATA[Texas Oil Production]]></category> <category><![CDATA[U.S. Oil Production]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3654</guid> <description><![CDATA[Crude oil production in Texas has grown from 25% of U.S. oil production to 35%. Production in the Permian Basin has been the driving factor behind this substantial increase. North Dakota’s Bakken Shale area is also a major producer in U.S. oil production with a 12% share overall. The following chart is from the U.S. […]]]></description> <content:encoded><![CDATA[Crude oil production in Texas has grown from 25% of U.S. oil production to 35%. Production in the Permian Basin has been the driving factor behind this substantial increase. North Dakota’s Bakken Shale area is also a major producer in U.S. oil production with a 12% share overall. The following chart is from the U.S. Energy Information Administration and shows how 5 states – Texas, North Dakota, California, Alaska, and Oklahoma – and the Gulf of Mexico produce more than 80% of U.S. crude oil. <a href="http://www.arescotx.com/five-states-and-the-gulf-of-mexico-produce-more-than-80-of-u-s-crude-oil/us-crude-oil-production-chart-2014-03-31/" rel="attachment wp-att-3655"><img class="aligncenter size-full wp-image-3655" alt="us-crude-oil-production-chart-2014-03-31" src="http://www.arescotx.com/wp-content/uploads/us-crude-oil-production-chart-2014-03-31.png" width="687" height="453" /></a> Investing in energy can provide decades of passive income and strong ROI potential. With oil consistently near or above $80 per barrel over the past four years, direct participation in oil and gas is a great way for partners to potentially benefit from returns that outpace most market-based investments. But there’s more to the story than the price of oil. Improved technology and the shift to developmental, infield drilling in both proven conventional fields and unconventional shale have changed the dynamics and lowered the risk of investing. The combination of high-energy prices and improved success rates sets the stage for strong investment performance. If you’d like to learn more about investing in energy, give us a call or request more info <a href="http://www.arescotx.com/contact-us/">here</a>. ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/five-states-and-the-gulf-of-mexico-produce-more-than-80-of-u-s-crude-oil/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Aresco LP announces divestment of nine East Texas Eagle Ford Shale wells</title> <link>http://www.arescotx.com/aresco-lp-announces-divestment-of-nine-east-texas-eagle-ford-shale-wells/</link> <comments>http://www.arescotx.com/aresco-lp-announces-divestment-of-nine-east-texas-eagle-ford-shale-wells/#comments</comments> <pubDate>Mon, 17 Mar 2014 19:14:56 +0000</pubDate> <dc:creator><![CDATA[Amy Knickerbocker]]></dc:creator> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Texas Oil and Gas Investing]]></category> <category><![CDATA[Eagle Ford Shale]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3591</guid> <description><![CDATA[FOR IMMEDIATE RELEASE: Aresco LP, a privately held Dallas-based exploration and production company, announced today the sale of nine B&R Energy well assets to Halcón Resources Corporation. The nine-well package, located in Brazos and Madison Counties, Texas, is part of Halcón’s core Eagle Ford area of operations. “Coming off our recent alignment with B&R Energy, […]]]></description> <content:encoded><![CDATA[FOR IMMEDIATE RELEASE: Aresco LP, a privately held Dallas-based exploration and production company, announced today the sale of nine B&R Energy well assets to Halcón Resources Corporation. The nine-well package, located in Brazos and Madison Counties, Texas, is part of Halcón’s core Eagle Ford area of operations. “Coming off our recent alignment with B&R Energy, we are excited to be a part of facilitating the return of capital to our partner base,” said Brandon Laxton, President and CEO of Aresco LP. “As our investors enjoy the opportunity to recycle capital into new projects, we wish Halcón best of luck as they continue their expansion throughout their El Halcón area of interest in East Texas.” ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/aresco-lp-announces-divestment-of-nine-east-texas-eagle-ford-shale-wells/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Permian Rising ~ Booming Energy Production Driving TX & NM Economies</title> <link>http://www.arescotx.com/permian-rising-booming-energy-production-driving-tx-nm-economies/</link> <comments>http://www.arescotx.com/permian-rising-booming-energy-production-driving-tx-nm-economies/#comments</comments> <pubDate>Mon, 17 Mar 2014 17:10:04 +0000</pubDate> <dc:creator><![CDATA[SEOadmin]]></dc:creator> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Energy Production]]></category> <category><![CDATA[Horizontal Drilling]]></category> <category><![CDATA[Hydraulic Fracturing]]></category> <category><![CDATA[Oil Production]]></category> <category><![CDATA[Permian Basin]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3584</guid> <description><![CDATA[Booming energy production in the Permian Basin of Texas and New Mexico is driving one of the fastest growing regional economies in America. Midland and Odessa Texas—in the heart of the Permian Basin—are the two of the nation’s fastest growing economies. Permian oil production is surging so resoundingly that it is not only surpassing the […]]]></description> <content:encoded><![CDATA[<a title="Permian Basin Energy Production" href="http://www.arescotx.com/permian-rising-booming-energy-production-driving-tx-nm-economies/permian-basin-energy-production/" target="_blank" rel="attachment wp-att-3586"><img class="alignleft size-medium wp-image-3586" style="border: 0px none; margin: 5px 10px;" alt="Permian Basin Energy Production" src="http://www.arescotx.com/wp-content/uploads/permian-basin-energy-production-300x225.jpg" width="300" height="225" /></a>Booming energy production in the Permian Basin of Texas and New Mexico is driving one of the fastest growing regional economies in America. <a title="Midland and Odessa Texas Energy Production" href="http://www.usatoday.com/story/money/business/2014/02/01/america-growing-shrinking-economies/5089373/" target="_blank">Midland and Odessa Texas</a>—in the heart of the Permian Basin—are the two of the nation’s fastest growing economies. <a title="Permian Oil Production" href="http://www.eia.gov/petroleum/drilling/?src=home-b1#tabs-summary-2" target="_blank">Permian oil production</a> is surging so resoundingly that it is not only surpassing the <a title="Eagle Ford Shale" href="http://www.arescotx.com/tag/eagle-ford-shale/">Eagle Ford Shale</a> formation in South-Central, Texas; it is eclipsing production in North Dakota’s Bakken formation as well. Permian crude oil production is expected to hit a record <a title="Permian crude oil production expected to hit a record 1.41 million barrels per day" href="http://www.businessweek.com/news/2014-03-07/oil-rigs-rise-to-highest-level-in-26-years-of-baker-hughes-data" target="_blank">1.41 million barrels a day in March</a>, up from 1.3 million a year earlier according to the Energy Information Administration. In addition, the <a title="US oil rig count surged to 1,443" href="http://gis.bakerhughesdirect.com/Reports/StandardReport.aspx" target="_blank">U.S. Oil rig count surged in early March to 1,443</a>—the highest total since the industry began tracking the counts in 1987 (<a title="Texas marked 755 oil rigs" href="http://gis.bakerhughesdirect.com/Reports/StandardReport.aspx" target="_blank">Texas marked 755 oil rigs</a>, for a total of 864 oil and gas rigs). The surge is primarily driven by the dynamism of the <a title="Permian Basin" href="http://www.arescotx.com/tag/permian-basin/" target="_blank">Permian Basin</a>, which racked up a count of <a title="504 oil rigs in Permian Basin" href="http://gis.bakerhughesdirect.com/Reports/StandardReport.aspx" target="_blank">504 oil rigs</a> (506 total oil/gas). At the close of 2013, there were 460 rigs (452 oil, 8 gas) along the formation The formation is so dynamic and rich in potential that Los Angeles-based <a title="Occidental Petroleum in Permian Basin" href="http://www.dailyfinance.com/2014/02/27/occidental-petroleum-corporations-huge-opportunity/" target="_blank">Occidental Petroleum</a> is spinning off its California operations and moving to Houston so that it can intensify its focus on its most profitable asset: the Permian. Occidental controls some 1.9 million acres in the area and is the formation’s largest producer. Drillers have pulled some 29 billion barrels of oil out of this hydrocarbon laced ancient sea floor since it was first discovered in 1921. But over the last 90 years, production has wavered, sloping downward during the 1960s and 70s and recovering with higher oil prices in the late 70s and 80s, before declining again in the 1990s. In recent years production has come roaring back. While traditional wells have been drilled in the area since its discovery, innovative technologies such as <a title="Hydraulic Fracturing" href="http://www.arescotx.com/tag/hydraulic-fracturing/" target="_blank">fracking</a> and <a title="Horizontal Drilling" href="http://www.arescotx.com/tag/horizontal-drilling/" target="_blank">horizontal drilling</a> are cutting costs and mitigating exploration risks. Producers are optimistic the region’s vast overlapping layers of petroleum-soaked shale rock will yield anywhere from 29-to-50 billion additional barrels. Since May 2011, the formation has shown consistent month-on-month crude oil production growth. And companies operating in the area are poised to dramatically increase production. Analysts project Permian crude oil production will hit at least 1.8 million barrels per day by the end of 2016. That’s an increase of almost 60 percent from current levels. The consensus among oil industry experts is that the area’s production level will easily top 2 million barrels per day within the next five years. The Permian Basin produces roughly 75 percent of the Lone Star State’s crude oil and up to 20 percent of its natural gas. It will continue to be one of the most dominant regions for energy production in Texas—and the United States. Because of shale production technologies and formations like the Permian, the <a title="US predicted to overtake Russia in oil production in 2014" href="http://www.dailyfinance.com/2014/02/27/occidental-petroleum-corporations-huge-opportunity/" target="_blank">U.S. is poised to overtake Russia in 2014</a> to become the largest non-OPEC petroleum producer in the world. And that standing should last. America’s estimated recoverable energy resources are the largest of any nation on the planet, followed by Russia, Saudi Arabia, and China. ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/permian-rising-booming-energy-production-driving-tx-nm-economies/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> <item> <title>Eagle Ford is Turning Texas into Global Petroleum Powerhouse</title> <link>http://www.arescotx.com/eagle-ford-is-turning-texas-into-global-petroleum-powerhouse/</link> <comments>http://www.arescotx.com/eagle-ford-is-turning-texas-into-global-petroleum-powerhouse/#comments</comments> <pubDate>Wed, 05 Mar 2014 17:37:29 +0000</pubDate> <dc:creator><![CDATA[SEOadmin]]></dc:creator> <category><![CDATA[Oil and Gas Current Events]]></category> <category><![CDATA[Barnett Shale]]></category> <category><![CDATA[Drilling Technology]]></category> <category><![CDATA[Eagle Ford Shale]]></category> <category><![CDATA[Eagle Ford Shale Production]]></category> <category><![CDATA[Horizontal Drilling]]></category> <category><![CDATA[Hydraulic Fracturing]]></category> <category><![CDATA[Oil and Gas Investing]]></category> <category><![CDATA[Oil Production]]></category> <category><![CDATA[Texas Oil Production]]></category> <guid isPermaLink="false">http://www.arescotx.com/?p=3543</guid> <description><![CDATA[In the realm of Texas oil and gas production the year 2013 was a big. Very big. According to the Texas Petro Index, the Lone Star State churned out $110 billion in oil and gas production. The index, a composite measure based on several exploration and production economic indicators, hit 295.0 in December 2013, up […]]]></description> <content:encoded><![CDATA[In the realm of <a title="Texas Oil Production" href="http://www.arescotx.com/tag/texas-oil-production/" target="_blank">Texas oil and gas production</a> the year 2013 was a big. Very big. According to the <a title="Texas Petro Index" href="http://texasalliance.org/texas-petro-index-sets-record/" target="_blank">Texas Petro Index</a>, the Lone Star State churned out $110 billion in oil and gas production. The index, a composite measure based on several exploration and production economic indicators, hit 295.0 in December 2013, up 6.7 percent from the previous year and shattering the previous high of 287.6 set in October 2008. Just about all of that growth was driven by crude oil, which totaled 856.8 million barrels for all of 2013— 31 percent of all U.S. oil production and the highest statewide total since 1985. But that bottom line figure enjoyed a boost from higher wellhead prices for natural gas as well. <a title="Eagle Ford Shale Formation Map" href="http://www.arescotx.com/eagle-ford-is-turning-texas-into-global-petroleum-powerhouse/eagle-ford-shale-formation-map/" target="_blank" rel="attachment wp-att-3548"><img class="alignleft size-medium wp-image-3548" style="border: 0px none; margin: 5px 10px;" alt="Eagle Ford Shale Formation Map" src="http://www.arescotx.com/wp-content/uploads/eagle-ford-shale-formation-map-300x232.png" width="300" height="232" /></a>A big driver in this booming oil and gas success is the <a title="Eagle Ford Shale" href="http://www.arescotx.com/tag/eagle-ford-shale/" target="_blank">Eagle Ford Shale formation</a>. Producing gas and more oil than traditional shale plays, Eagle Ford went from a mere average of 352 barrels of oil production per day in 2008 to an astounding average of <a title="Eagle Ford Oil Production" href="https://www.rrc.state.tx.us/eagleford/EagleFordOilProduction.pdf" target="_blank">688,429 barrels per day in 2013</a>. That’s a growth rate of nearly 2000 percent in just five years. In fact the pace of Eagle Ford growth has been so brisk, it beat the more mature Bakken Shale field in North Dakota to the <a title="Eagle Ford Shale Output" href="http://www.bizjournals.com/sanantonio/news/2013/12/30/eagle-ford-shales-output-this-year.html" target="_blank">1 million-barrel-per-day oil production milestone</a> in August of 2013. Eagle Ford was initially seen primarily as a source for natural gas. But as gas prices plummeted operators began successfully pulling oil from sections of the Eagle Ford formation using <a title="Horizontal Drilling" href="http://www.arescotx.com/tag/horizontal-drilling/" target="_blank">horizontal drilling</a> and <a title="Hydraulic Fracturing" href="http://www.arescotx.com/tag/hydraulic-fracturing/" target="_blank">hydraulic fracturing</a> techniques originally tested in North Texas’ Barnett Shale. Eagle Ford spans through all or part of some 25 Texas counties, covering an area roughly the size of West Virginia. Its 50 mile-wide crescent shape stretches 400 miles from the Texas-Mexico border up toward Dallas County. Named after the town of Eagle Ford near Dallas, the oil and gas rich formation was first tapped in 2008 by Petrohawk Energy— a Houston-based independent oil and natural gas company. <a title="BHP Billiton Acquires Petrohawk" href="http://dealbook.nytimes.com/2011/07/14/bhp-billiton-to-buy-petrohawk-for-12-1-billion/" target="_blank">Houston-based Petrohawk was acquired by BHP Billiton</a> for 12.1 billion in 2011. Eagle Ford investment is expected to surpass $116 billion by 2015 and is likely to become the largest oil field ever discovered in the lower 48 states. Eagle Ford also has the potential to be the largest natural gas field ever discovered in Texas. Today, more than 7,000 existing or planned oil and gas wells have been drilled or are in the planning stages along the shale formation, Eagle Ford— together with the <a title="Permian Basin" href="http://www.arescotx.com/tag/permian-basin/" target="_blank">Permian Basin</a>—is driving an oil and gas boom that could make Texas one of the leading oil producers on the planet. Texas is projected to produce more than 3 million barrels of oil per day in 2014, catapulting the Lone Star State past Mexico, Iraq, and Kuwait to become the 8th largest oil producer in the world. <hr /> If you would like to learn about how to invest in oil & gas in the Eagle Ford Shale area, see our free white paper “<a title="Investing in Texas Eagle Ford Shale Oil & Gas" href="http://www.arescotx.com/oil-gas-interests-explored-pathways-to-profit/">Oil & Gas Interests Explored – Pathways to Profit</a>“. ]]></content:encoded> <wfw:commentRss>http://www.arescotx.com/eagle-ford-is-turning-texas-into-global-petroleum-powerhouse/feed/</wfw:commentRss> <slash:comments>0</slash:comments> </item> </channel> </rss>