Eagle Ford Output to Reach 500,000 by 2012 End, Klesse Says
This article is for subscribers only.
The Eagle Ford shale formation will put out 500,000 barrels of crude oil a day by the end of the year, Valero Energy Corp. Chief Executive Officer Bill Klesse said after the company’s annual meeting in San Antonio.
Producers have told him output from the South Texas formation may rise to 1 million barrels a day in the next few years, Klesse said. Production in 2011 averaged 60,000 barrels a day, according to data from the Texas Railroad Commission, which regulates the energy industry in the state.