---
title: "Eagle Ford Oil"
url: https://independentstockanalysis.com/eagle-ford-oil/
description: "Oil Rises From Three-Week Low on Forecasts U.S. Hiring Increased at Bloomberg . The Eagle Ford rig count is 270, a good 50+ higher than the Bakken with…"
published: 2012-08-03
updated: 2012-08-03
---

# Eagle Ford Oil

Published 2012-08-03

Posted on

by

J.J. Butler

Oil Rises From Three-Week Low on Forecasts U.S. Hiring Increased at [Bloomberg](http://www.bloomberg.com/news/2012-08-03/oil-rises-from-three-week-low-on-forecasts-u-s-hiring-increased.html).

The Eagle Ford rig count is 270, a good 50+ higher than the Bakken with more productive geology. [Eagle Ford Shale](http://eaglefordshale.com/news/eagle-ford-shale-regional-rig-count-at-270-july-27-2012/)

PXP Eagle Ford “second-quarter daily sales volumes averaged 25.7 thousand BOE per day net to PXP compared to second-quarter 2011 average daily sales volumes of 2.3 thousand BOE per day net to PXP.” [Results](http://finance.yahoo.com/news/pxp-reports-second-quarter-results-105700244.html)

EOG Resources continues to kill it, led by their Eagle Ford [results](http://finance.yahoo.com/news/eog-resources-reports-second-quarter-210500632.html). Marathon’s Eagle Ford Production Grows 50% in Three Months at [Eagle Ford Shale](http://eaglefordshale.com/news/marathons-eagle-ford-production-grows-50-in-three-months/).

“Proved reserves of U.S. oil and natural gas in 2010 rose by the highest amounts ever recorded since the U.S. Energy Information Administration (EIA) began publishing proved reserves estimates in 1977.” And it’s only accelerated since. [EIA](http://www.eia.gov/naturalgas/crudeoilreserves/)

How high would oil prices be without the US horizontal drilling bonanza? Pemex Reports Production Declines again at [E&P Magazine](http://www.epmag.com/Production/Pemex-Reports-Production-Declines_104286).

A large swatch of the developing world still uses expensive oil products for electricity generation. India sucks in diesel as poor monsoon triggers massive power shortage at [Platts](http://platts.com/RSSFeedDetailedNews/RSSFeed/Oil/7937343).

“For the first time, London is overtaking New York as the global hub for trading oil futures.” [Financial Post](http://business.financialpost.com/2012/08/02/brent-oil-beats-wti/?utm_source=dlvr.it&utm_medium=twitter)