Eagle Ford Texas | Zachary Toliver
Analysts believe that energy companies will spend $20 billion in the Eagle Ford this year despite global oil glut.
These days, petroleum prices are a calamity at best, but according to a new projected capital analysis, energy companies will spend $20 billion in the Eagle Ford Shale this year. “The big players in the Eagle Ford are some of the most stable companies in U.S. onshore markets,” Wood Mackenzie analyst Jeremy Sherby said. “Overall, Eagle Ford production growth is not dependent on the smaller, more financially vulnerable companies.” If oil prices can remain around a minimum of $55 per barrel, Wood Mackenzie expects the Eagle Ford to reach a production level of 2 million barrels per day by 2020.