Eagle Ford’s future might lie in Mexico’s demand
The Eagle Ford Shale is an oil-producing machine. But the field and its operators could ultimately cross the border into Mexico or become — as it started back with the first wells in 2008 and 2009 — a big source of natural gas.
Scott Sheffield, chairman and CEO of Irving-based Pioneer Natural Resources, said he expects the field to cross the 1 million barrel per day production point any month now.
“The Eagle Ford has been the fastest rise,” said Sheffield, who spoke Thursday at Hart Energy’s DUG Eagle Ford Conference at the Convention Center. “It could be the fastest growth field to ever hit 1 million barrels in U.S. history, basically in about a four-year time frame.”
But while South Texas is well established as a top U.S. onshore field, for the long term, Pioneer and other Eagle Ford operators are watching for potential opportunities in Mexico, where President Enrique Peña Nieto unveiled a proposal last month to allow some direct foreign investment in projects of Petróleos Mexicanos, or Pemex.
More at http://fuelfix.com/blog/2013/09/20/eagle-fords-future-might-lie-in-mexicos-demand/?cmpid=businesshcat .
