“By the end of this year, Texas’ oil production could exceed the output of every OPEC country but Saudi Arabia,” the Houston Chronicle said this week.
With Eagle Ford Shale in South Texas and the Permian Basin in West Texas, production will hit 3.4 million barrels per day.
That’s more than Iraq and Iran, the story said.
Outside OPEC, only the U.S. as a whole, Russia, China and Canada are bigger.
Texas, the story said, will be the world’s sixth-largest producer.
“This is the greatest comeback story you can possibly imagine,” according to Greg Leveille, manager for technology program-unconventional reservoirs at ConocoPhillips.
He was speaking Tuesday at the Eagle Ford Consortium conference in San Antonio.
Saudi Arabia produced 9.7 million bpd in March.
“The use of horizontal drilling techniques and hydraulic fracturing opened up a boom in South Texas and the Permian Basin. Fracturing pumps millions of gallons of water and chemicals at high pressure to break shale and prop open the cracks with sand, letting oil and gas flow up a well,” the Houston Chronicle said.