In the following video, Fool contributors Tyler Crowe and Aimee Duffy discuss a conference call from EOG Resources CEO Mark Papa, in which Papa states that in two years the Eagle Ford formation may overtake the Bakken in production.
Aimee discusses why this prediction may come true. First, 2012 production increased at least 68% over 2011 -- and this figure may be revised once the Texas Railroad Commission finishes analyzing its data. Keep in mind that an Eagle Ford well in its peak month of production averages 300 to 600 barrels per day, and that the Eagle Ford benefits from being only 100 miles from the Gulf refinery complex.
Substantial capital investments are expected for the Eagle Ford this year. Major investors include EOG Resources, Marathon Oil, and Enterprise Product Partners.
Production is growing, the capacity is in place, and companies are investing. These three factors may make the Eagle Rock the place for investors.
