The oil market is still in the middle of the crisis overthrew the shale region, Eagle Ford from the accounts, focusing on more promising Permian basin. However, as it turned out, the cross on Eagle Ford has put too early.
A recent University of Texas study of geophysical research showed that the recoverable reserves of this field amount to 10 billion barrels of crude oil, and gas – over 1 trillion cubic meters. And that’s just the volume that makes economic sense to extract given current prices. Potential reserves of the pool to reach 230 billion barrels of oil and 13 trillion cubic meters of gas.
While mining companies operating here, such as Marathon Oil, Chesapeake Energy and Sanchez Energy have managed to significantly reduce production costs thanks to the new tactics. For example, Sanchez Energy started to produce work that was previously given to outsourcing.
The company itself is engaged in the extraction of sand and production of chemicals for hydraulic fracturing operations, reports to the information resource Oil Price. Although this required additional infrastructure costs, eventually the cost of these products and services were lower, and Sanchez Energy have saved a lot of money.
Now this sector costs the company $ 3.3 million per year, while in 2014 it cost 8.8 million dollars a year. And the cost of a barrel of oil fell to $ 45.
And Chesapeake has focused on the length of the hydraulic fracturing wells. The company began to drill very long horizontal wells, which of course cost more but have much more oil and gas. In the end, more long bores the ratio costs/income are cheaper by 60%.
These examples demonstrate that Eagle Ford still can be seen, despite the fact that currently there are only 23 rigs, whereas in the Permian basin 201 their unit. In fact, activity in the Eagle Ford fields so high that there are faced with the problem of overabundance of fluids underground.
Thus, even with all the problems the region is the Eagle Ford to give up completely not going, and intends to develop further even if the global price of oil in 50 dollars for barrel will remain for years.
