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US Eagle Ford Oil Output To Rise 4% This Year

OIL

Oil production in the South Texas Eagle Ford shale field is expected to rise as much as 4% this year, as higher prices spur more drilling and as US crude exports set new records according to Reuters.

  • Output in the Eagle Ford shale field, the second largest US shale field, tanked in 2020 but has returned to growth with an average monthly increase of 17kbpd in the late half of 2022, according to US government data.
  • Output in the Eagle Ford is expected to rise between 25-40kbpd, Alexandre Ramos-Peon, head of shale well research at Rystad Energy said.
  • February's Eagle Ford oil production is forecast to hit 1.2mbpd, the highest level since April 2020, data from the Energy Information Administration show.
  • Its gains will help keep US output rising as the Permian basin, the largest US shale field, has slowed rapidly in the last year.

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