U.S. ENERGY ASSETS ANNOUNCES EAGLE FORD SHALE PLACEMENTS

Cedar Hill, Texas, October 24, 2018 Since 2014 U.S. Energy Assets LLC has successfully guided and placed interest owners in 82 oil and gas wells in 7 different Counties in the Eagle Ford Shale in South Texas.  August cumulative production from these wells was: 142,214 BO (Barrels of Oil) and 152,297 MCF (Thousand Cubit Feet of Natural Gas).

The Eagle Ford Shale Trend is located in South Texas (the “Trend”) as currently delineated is approximately 40 miles wide and 500 miles long, it encompasses 30 South Texas counties, 20,000 sq. miles, 12,800,000 acres, and is still growing as the Play expands to the East and South. “The Eagle Ford Shale Trend is larger than the state of Maryland”.  Source: Wood Mackenzie.  Since its discovery in 2008, over 17,000 horizontal wells have been drilled and completed in the Trend. Source: Railroad Commission of Texas (RRC) March 2017.

The Eagle Ford Shale Trend’s daily production of crude oil and condensate exceeded 1,200,000 barrels per day, over 13.04% of the U.S.’s total daily production.  Source: U.S. Energy Information Administration (EIA) March 2017.  Daily production is predicted to grow to over 2,000,000 barrels of oil and condensate per day by the end of this decade. Source: Wood Mackenzie.  In November 2014 cumulative Eagle Ford Shale Trend production hit the 1 billion barrel milestone; over 70% of the 1 billion barrels were produced in the last two years. Only two oil fields; Saudi Arabia’s Ghawar and Alaska’s North Slope have reached 1 billion barrels in cumulative production faster. Source: Wood Mackenzie December 2014.

It is estimated that the Trend contains recoverable resources of 25 billion barrels of oil equivalent  (BOE) placing the Trend as perhaps the United States largest oil reserve and the 8th largest oil field in the world in terms of estimated ultimate recoverable reserves (EUR). Source: Tudor Pickering Holt & Co 2013.  It is estimated that the average well in the Trend will produce 500,000 barrels of oil equivalent (BOE) over its economic life. Source: Railroad Commission of Texas 2012.  It is also estimated that it will take over two decades and 90,000 wells to develop the Eagle Ford Shale Trend. Source: W.D. Von Gonten & Company, Petroleum Engineers 2012.

U.S. Energy Assets’ experienced acquisitions team enjoys deep, long-term relationships in the most active fields in the U.S., driving significant amounts of deal flow.  Over his many years in the industry, U.S. Energy Assets’ Founding Principal has facilitated the purchase and sale of millions of dollars worth of producing oil and gas projects.

 

Contact: Brandy, Johnny, or Ray
Phone: (214) 643-6190
Email: info@usenergyassets.net