Economics
Texas Tops Finds From Brazil to Bakken as Best Prospect: Energy
This article is for subscribers only.
Energy companies in search of oil riches rivaling the biggest finds from Brazil to Angola are flocking to Texas shale, where new wells have triggered a 230-fold increase in crude output in three years.
More than 115 years after a gusher 55 miles (88 kilometers) south of Dallas ushered in Texas’ first oil boom, U.S. producers such as ConocoPhillips and Marathon Oil Corp. are counting on the Eagle Ford Shale to boost crude output amid a glut-driven slump in natural-gas prices.