“The Eagle Ford is the top basin we have in the world today,” says Marathon Oil’s David Roberts, as Edward Klump reports for Bloomberg.
All this Eagle Ford Shale hype – and it’s not really hype – means continued focus on intensive hydrofracking here in Texas, which will undoubtedly cause more tanker truck traffic on the roads. This also means more truck accidents.
The Eagle Ford Shale bests both Brazil and Bakken, as Klump writes, in terms of risk and cost. It’s tough to explore for oil in Brazil’s offshore waters, and the Bakken Shale in North Dakota and Montana has worse terrain.
The Eagle Ford Shale, by contrast, covers 400 miles of relatively-accessible South Texas land, and is located right here at home, not in Brazil, nor in politically-tenuous drilling locations like the Middle East. (Marathon Oil stopped production in Libya after unrest last year.)
As Klump reports, a source close to the oil and gas industry says, “A long-time oil field axiom is that big fields tend to get bigger over time, and that’s certainly the case here.”
Source: Texas Tops Finds From Brazil to Bakken as Best Prospect: Energy