Eagle Ford producing more than 500,000 barrels per day of oil in April 2012

1. Petroleum News – The number of new wells drilled in Texas’ Eagle Ford shale more than doubled during the first three months of 2012, compared with the same period a year ago, according to Bentek Energy analysis. Daily increase in activity ratcheted up production of oil and other liquids, from 182,000 barrels per day in April 2011 to more than 500,000 bpd in April, 2012, according to Bentek’s analysis. The Eagle Ford also produces about 2 billion cubic feet of natural gas per day.

Texas added 50,000 barrels per day from January to February, 2012

There are projections for Texas oil production to get over 2 million barrels per day (based on the Texas railway commission definitions). The Texas commissioner in charge of their oil industry is saying that 4 million barrels per day of oil production in Texas is feasible by 2016.

2. In May 2011, pipeline companies committed more than $1 billion to add 940,000 barrels per day (bpd) of pipeline capacity (to support increase in Eagle Ford oil production in Texas) by the end of 2012.

3. The US increased crude oil production by 15,000 barrels per day in the most recently reported week and increased other petroleum liquids by 30,000 barrels per day.

4. Reuters – Independent U.S. refiner Valero Energy Corp could run an additional 235,000 barrels per day (bpd) in light, sweet crude oil from the Eagle Ford formation in south Texas at its U.S. Gulf Coast refineries with little or no additional investment, Chief Executive Bill Klesse said on Tuesday.

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