Eagle Ford June Oil Output Up 60% from Year Ago

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Eagle Ford June Oil Output Up 60% from Year Ago

Reuters

Aug 19 (Reuters) - Oil production from the Eagle Ford shale fields in South Texas rose to just above 621,000 barrels per day (bpd) in June, according to preliminary data released by the Texas Railroad Commission on Monday.

The field's oil output was 60.2 percent higher than a year earlier, according to Reuters calculations.

However, June production was down 4.47 percent from May's more than 650,000 bpd, the TRRC data showed.

Companies operating in the 17 oil and gas fields of the Eagle Ford produced nearly 93,000 bpd of condensates and 1.52 billion cubic feet of gas daily in June, according to the data.

South Texas has witnessed a renaissance in oil and gas production in recent years after producers unlocked the region's shale resources using a combination of hydraulic fracturing and horizontal drilling technologies.

Texas produced 2.5 million barrels of oil a day in May, the latest month for which data is available, according to the U.S. Energy Information Administration (EIA).

Texas remains the biggest oil-producing state in the country, followed by North Dakota, where a similar boom is taking place in the Bakken shale oil patch.

U.S. domestic oil output currently stands at 7.6 million bpd, its highest in 24 years.

The output figures may change if companies revise or correct the data they submit to the commission.

(Reporting by Selam Gebrekidan; Editing by Gerald E. McCormick and John Wallace)

Copyright 2015 Thomson Reuters. Click for Restrictions.

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