Just because we are located in Fort Worth, does not mean that we only work around Fort Worth. We can stretch our arms nation wide when it comes to minerals.
The Permian Basin is the most prolific oil and gas producing region in the U.S. It is located in West TX and southeastern New Mexico spanning 300 miles in length and is 250 miles wide. The basin currently boasts an impressive oil production of 2.2 million barrels per day (bpd)
and over 7.3 billion cubic feet per day (Bcf/d) of natural gas. The Permian Basin is one of the largest shale producing regions in North America and is attractive to many because the numerous formations that can be drilled. The cities of Midland and Odessa serve as the main hub for oil and gas production activities within the Permian Basin.
Boasting over 1.2 million barrels of oil a day (bpd) in 2015 the Eagle Ford is considered one of the most prominent shale plays in the country. It stretches almost 400 miles from the Mexican border all the way to East TX and is 50 miles wide in some areas. This South Texas play is rich in both oil and natural gas producing from various depths from 4,000 to 14,000 feet. The “Eagleford” is a
Geological formation found directly below the Austin Chalk formation. The Eagleford in this situation is considered to be the “source rock” meaning that it is responsible for sourcing hydrocarbons to the shallower Austin Chalk above. With its high carbonate shale content the Eagleford is ideal for fracking and is dominated by primarily by EOG Resources, ConocoPhillips, BHP Billiton, Chesapeake Energy and Marathon Oil.
Known to many as the “grand daddy” of its time, it has been called one of the biggest plays for natural gas in the United States, even though it only covers land in Texas. A significant area though, covering over 5,000 miles. Even being one of the most sought after natural gas shales, it is also the most difficult to drill because of all the rock and sand that is surrounding the hydrocarbon deposits.
Though, because of the technology that we have now, such as horizontal drilling, drillers are able to produce about 5.3 billion cubic feet of gas and 15,500 barrels of oil each day. In 2015 it was responsible for about 70% of all U.S. gas shale production. It is said to still contain approximately 40 trillion cubic feet of natural gas, just waiting to be found.
Although it is a smaller play, it still packs a punch in producing around 1 million barrels of oil a day. Gas production is not quite as prevalent, as they only recover around 1 billion cubic feet of natural gas per day. Recently it has been known to produce 458,000 barrels of oil per day.
For many years, it was considered one of the greatest shale plays, even though the technology was not there to extract gas and oil, until now. In 2000, the arrival of new techniques, such as horizontal drilling, has opened the spill way to fully exploring and producing this shale.
The Marcellus Basin stretches across the states of New York, Ohio, Pennsylvania, Virginia, and West Virginia. It is one of the most prolific basins in North America due to its sheer size and reserve potential. In the past, the deposit was deemed too difficult to exploit. However, thanks to modern technology, use of the reserve has been made a reality.
The average rate of production-per-day depends on the location of the facility. More organically dense areas will have a higher yield of natural gas. These areas have been identified under norther Pennsylvania and western New York. The shale produces around 327 million cubic feet per day of natural gas in dense areas.
The Anadarko-Woodford basin, also known as the South Cana Woodford, is a resource that is one of the best quality resource reserves in the country. The Anadarko-Woodford shale has 60 reservoirs in Oklahoma and stretches across three of the top oil-producing counties of the state.
According to Barclays Capital Inc. statistics, Oklahoma is one of the top five oil-producing states, and as of July 2015, has also produced more natural gas than Louisiana, Wyoming, and New Mexico. Based on current industry statistics, it produces 631,000 barrels per day.
The Haynesville Shale is a Jurassic Period rock formation that rests under southwestern Arkansas, northwest Louisiana, and East Texas. The formation covers an average of 9,000 square miles and is around 200-300 feet thick. Haynesville is best known for its large quantities of recoverable natural gas. The formation produces 7,540 cubic feet of new-well gas production per rig, per day.
The Haynesville has recently been promoted as a prime target for completion of existing horizontal wells. Also, it is estimated that there are between 35,000 and 50,000 wells left to be drilled across the formation.
Formed nearly 323 million years ago, the Fayetteville Shale is a formation that spans across Arkansas. This formation holds natural gas and is one of the first U.S. shales to be developed en masse. It is estimated by the US Energy Information Administration to hold 13, 240 billion cubic feet of unproven, recoverable natural gas.
With the average well currently estimated to produce 1.3 billion cubic feet of gas, it is no wonder that the Fayetteville is viewed as a valuable location for facilities seeking available recoverable natural gas.
The Niobrara shale sits in the northeastern area of Colorado, and parts of Wyoming, Nebraska, and Kansas. Although there is natural gas to be recovered from the area, the biggest natural resource is oil.
The Niobrara is an emerging shale and companies are currently in the process of racing to lease land here for future drilling. According to a recent report from the ELA, the Niobrara currently produces 1,284 oil barrels per day, per rig.