HOUSTON, Oct. 23, 2012 /PRNewswire/ -- With more than 4,000 oil and gas industry professionals, investors, and service company personnel registered, Hart Energy's 3rd annual DUG Eagle Ford conference and exhibition last week in San Antonio remains the largest unconventional resources event in the world.
The crowd gathered October 14-16 at the Henry B. Gonzalez Convention Center in San Antonio for the latest in Hart Energy's successful DUG™ conference series. This year, the conference provided a two-track program covering both upstream and midstream topics — both to standing-room audiences.
"DUG Eagle Ford would not be where it is today without the support of our speakers, sponsors, and exhibitors," said Richard A. Eichler, CEO of Hart Energy. "We proudly host top-tier industry leaders who speak about their companies' efforts in the Eagle Ford, as well as the finance and service company workforce who help them reach their goals."
As this liquids-rich shale play moves beyond exploratory drilling into full-fledged field development activity, nearly three dozen executives from the petroleum industry and financial community detailed why the Eagle Ford region is seeing such impressive growth. (From virtually nothing four years ago, the Eagle Ford today is producing 200,000 barrels per day of crude oil, and production is expected to double again in 2013.)
"The Eagle Ford Shale has emerged as the most significant opportunity for unconventionals in North America and perhaps the world," said David E. Roberts Jr., Marathon Oil executive vice president and chief operating officer.
Mark Sooby, managing director of energy investment banking of Bank of America Merrill Lynch, said the Eagle Ford is more profitable than many other plays because of its proximity to refineries.
"This is just an amazing oil story in the middle of what started as a gas play," said Sooby.
Speaker after speaker addressed the industry's challenges in managing this remarkable growth, including strategies for improving community relations. Several producers detailed their support for infrastructure projects and public services which help South Texas communities handle the influx of personnel, equipment, and material required to sustain Eagle Ford development. These themes were echoed by Texas Railroad Commissioner David Porter, who opened the second day of the conference.
As a special feature, the closing remarks were delivered by former Speaker of the House and Republican presidential candidate Newt Gingrich. He addressed how energy industry personnel should be engaged in the electoral process to ensure responsible energy policies and resource development. Gingrich was joined on the dais by Scott Noble, founder of Noble Royalties, who presented details of a recent study of leasing activity on and royalty streams from federal lands. Noble commissioned the study, conducted by Netherland, Sewell & Associates, to assess how restoring federal leasing activity to historic levels would work to address the federal government's budget deficit.
For 30-plus years, Hart Energy has been a leader covering energy news and technology for investors and executives. The Houston-based company produces industry magazines, online information services, and newsletters, and provides energy research and fuels consulting services. Hart Energy's unconventional resource events are the largest in the world. Visit hartenergy.com for more information.
SOURCE Hart Energy