EOG sees Eagle Ford shale as major US oil discovery

04/19/2010
EOG Resources Inc. has accumulated acreage across six counties in the Eagle Ford play of South Texas where the Houston independent has drilled 16 delineation wells over a 120-mile trend.Mark G. Papa, EOG chairman and chief executive officer, said, "We believe the South Texas Eagle Ford horizontal crude oil play will prove to be one of the most significant United States oil discoveries in the past 40 years."Although it's too early for official reserve estimates, EOG forecast its Eagle Ford recovery potential at 900 million bbl of oil equivalent, net after royalty, based on initial drilling and early production results on a 505,000 net-acre position.The recovery could be obtained ...
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