Thanks everyone for yr comments. Still a bit patchy on flow...

Thanks everyone for yr comments. Still a bit patchy on flow rates and reserves, conventional, unconventional, and linking it to market cap.. Depth & extraction methods I get. Although 12,000 ft is a long way down (Eagle Ford) as well as 5000 ft out at sea (Israel).

Here's a section from Wikipedia on Eagle Ford, Texas. Which has been a game changer for the US. And if its a game changer for the US, it's a game changer for the rest of us!

'Oil & Gas

Petrohawk drilled the first well to produce oil and gas from the Eagle Ford in 2008, in LaSalle County, Texas. Oil companies quickly extended the productive area, which stretches from the Texas-Mexico border in Webb and Maverick counties and extends 400 miles toward East Texas. As of 2013, Eagle Ford produces oil and gas in 15 counties. The play is 50 miles wide and an average of 250 feet thick at a depth between 4000 and 12,000 feet. The shale contains a high amount of carbonate which makes it brittle and easier to use hydraulic fracturing to produce the oil or gas.[2]

The oil reserves are estimated at 3 billion barrels.[3] The US Energy Information Administration estimated that the Eagle Ford held 50.2 trillion cubic feet of unproved, technically recoverable gas. The average well was estimated to produce 2.36 billion cubic feet of gas.[4]

In the first six months of 2013, the Eagle Ford produced 2.69 billion cubic feet of gas and 599,000 barrels of oil and condensate per day; the oil production represented an increase of 51% over the average for 2012. As of 2013, Eagle Ford production extended into 24 counties in Texas.[5]

Proved reserves (US)

US EIA, 2010: 2.5 trillion cubic feet of gas
US EIA, 2011: 1.25 billion barrels of oil, 8.4 trillion cubic feet of gas[6]'


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