Our subscribers have been asking us lately what the Eagle Ford is and why it matters so much. The Eagle Ford Shale is one of the most significant domestic oil finds in decades and is also one of the most active shale plays in the world producing oil and natural gas. This immense hydrocarbon producing formation in South Texas is considered to be one of the most noteworthy oil and natural gas discoveries ever found in the state.
Where is the Eagle Ford Shale Located?
The Eagle Ford Shale begins in southwest Texas at the Webb and Maverick counties right on the border of Mexico. It spans northeast all the way up to Leon and Madison counties. Although it spans across 25 counties, the majority of drilling operations only go up to Gonzales and Lavaca counties. You can get a better idea by viewing this map:
Why does the Eagle Ford Shale Formation matter?
The Eagle Ford Shale Formation matters to us Texans in many ways. The most important impact being the economic development it has been the catalyst for. In his recent study, Dr. Thomas Tunstall explains, “In 2016, the Eagle Ford Shale impacts represented close to $33.3 billion in output, supported close to 36,150
full-time-equivalent jobs, paying $1.7 billion in wages and salaries, provided $1.5 billion in state revenues —
including $0.7 billion in severance taxes, created close $14.5 billion in gross regional product, and produced
close to $1.0 billion to local governments.”
I think it’s plain to see that our economy has been injected with an adrenaline rush of oil and gas production, stimulating our economy in ways we didn’t think possible. South Texas towns and cities have welcomed the change and rapid growth they’ve experienced from the boom and maintenance of the Eagle Ford, though it began as a struggle for most to get past the initial learning curve that comes with such drastic increases in traffic, business and population.
All in all, oil and gas production in the Eagle Ford is at a healthy and sustainable level for the long term. We have an optimistic view on the future of oil and gas production in the Eagle Ford Shale, and we know it will keep opening new doors of opportunities for our neighbors in the surrounding areas. Remember, STEER is the conduit of communication for the oil and gas industry in South Texas, so if you haven’t seen us in the South Texas area, feel free to send us a request to visit and/or speak to your community regarding the industry. We may be reached at info@steer.com and justine.carroll@steer.com.