The Eagle Ford shale play produces its one billion barrel of cumulative oil production, and the play’s potential remains strong despite lower oil prices. The Eagle Ford shale play in South Texas achieved a significant milestone last month with the production of its one billionth barrel of crude and condensate. Over 70 percent of this oil production has been produced in the past two years, according to a recent update by Wood Mackenzie. Today, the Eagle Ford accounts for approximately 16 percent of total U.S. daily oil production. In 2015, 2.8 million barrels of oil equivalent per day of production is expected from the Eagle Ford, and the largest share of U.S. Lower 48 spending next year will be in the Eagle Ford with $30.8 billion. A couple of factors have allowed operators to reach one billion barrels in cumulative production over the past seven years, said Cody Rice, […]