Trade Resources Industry Views Outbound Shipments of Eagle Ford Shale Crude Jumped to 430,829 Barrels/Day in March

Outbound Shipments of Eagle Ford Shale Crude Jumped to 430,829 Barrels/Day in March

Outbound shipments of Eagle Ford Shale crude and condensate through the Port of Corpus Christi jumped to 430,829 barrels/day in March from 340,158 b/d in February, according to data released by the port.

Shipments have been on the rise this year, according to data on the port's website. In January, outbound crude shipments averaged 353,192 b/d. In February, an average of 340,158 b/d was shipped. In March 2013, some 303,459 b/d of outbound crude was shipped.

The amount of crude shipped inbound and outbound from the marine facility is listed in short tons in the port data. A conversion rate of 277.42 lb/barrel was used to derive the b/d rate. The conversion rate is common for a 47 API barrel of light sweet crude such as that found in the Eagle Ford Shale.

The Eagle Ford is a shale play of 20,000 square miles (12.8 million acres) about 70 miles from Corpus Christi. The port's proximity to the Eagle Ford provides a direct route for moving crude to domestic destinations on the US Gulf and East coasts.

Outgoing shipments of crude rose in correlation with rising development in the Eagle Ford play.

May's Eagle Ford oil production is expected to rise 31,000 b/d compared with April's average to 1.38 million b/d, the US Energy Information Administration said in an April 14 report on drilling productivity.

Also, new-well production per rig in the Eagle Ford is expected to total 470 b/d in May, up 24% from the corresponding month in 2013, the EIA said in the same report.

According to the report, new-well production per rig is the historical estimated monthly additions from one average rig coupled with the number of total drilling rigs as reported by Baker Hughes.

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Port of Corpus Christi Outbound Crude Shipments Jump 27% Month on Month in March
Topics: Chemicals