DRILLING MARKET FOCUS: Independents accelerate US horizontal oil drilling

05/17/2010
A growing number of independents plans to accelerate development of crude oil and liquids-rich plays, driven largely by horizontal drilling results in the Eagle Ford shale of South Texas and by growing production in North Dakota's Bakken formation.Carrizo Oil & Gas Inc. and Goodrich Petroleum Corp. each announced plans to acquire bigger stakes in the Eagle Ford, while EOG Resources Inc. reaffirmed its commitment to oil shale, citing discoveries in Texas, North Dakota, and Colorado.Mark G. Papa, EOG chairman and chief executive officer, told analysts Apr. 7 that he believes horizontal oil wells in unconventional rock will prove to be "a North American game changer."EOG Resour...
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