One of Texas' Oldest Oil Plays Is Running Dry

AI Summary

The Eagle Ford shale play in Texas, known for consistent crude oil and rising gas production, is nearing resource exhaustion at the Buda Limestone formation beneath it. The U.S. Geological Survey estimates limited remaining recoverable hydrocarbons in this nearly century-old formation.

The Eagle Ford shale play has shown remarkably consistent crude oil production and rising natural gas output in recent years. A formation beneath the Eagle Ford has been producing for nearly a century, but now it has its remaining resources nearly exhausted. The Buda Limestone formation, which lies beneath the Eagle Ford Group, has limited remaining oil and gas resources, the latest analysis by the U.S. Geological Survey (USGC) showed this week. Technically recoverable resources at Buda Limestone are estimated at 184 billion cubic feet of gas and…