Shale drillers target Eagle Ford for new exploration opportunities

HOUSTON (Bloomberg) - The Eagle Ford shale in South Texas, long overlooked compared to its larger cousin the Permian basin, saw its biggest one-week jump in drilling activity in more than two years as explorers look for growth beyond the world’s biggest shale patch. The number of rigs drilling for crude in the Eagle Ford rose by 5 to 43 this week, according to Baker Hughes Co. data released Friday. It’s the biggest weekly expansion for explorers in the region since December 2019. Even gas-rich basins got in on the crude-drilling growth, adding the most oil rigs in at least half a decade with two more going to work in Louisiana’s Haynesville and one starting up in the Marcellus.