Deposits Skyrocket at Eagle Ford-Area Banks

It’s America’s final frontier for shale. And the payout will be huge. Get this… If you add up the recoverable resource estimate for the oft-mentioned Bakken formation in North Dakota, as well as the Eagle Ford in South Texas… then DOUBLE it, you’ll get close to the number of recoverable barrels of oil that remain trapped in the heart of this untapped “mega” shale deposit. Put another way, according to the US Energy Information Administration, this one massive shale play represents 64% of the total recoverable shale oil resource base in the country.

It’s America’s final frontier for shale. And the payout will be huge. Get this… If you add up the recoverable resource estimate for the oft-mentioned Bakken formation in North Dakota, as well as the Eagle Ford in South Texas…then DOUBLE it, you’ll get close to the number of recoverable barrels of oil that remain trapped in the heart of this untapped “mega” shale deposit. Put another way, according to the U.S. Energy Information Administration, this one massive shale play represents 64% of the total recoverable shale oil resource base in the country.

ByClayton Rulli:The Eagle Ford Shale is a large deposit of oil and gas that could be the most significant economic development in the history of the state of Texas, even if Clint Eastwood's and John Wayne's combined box office revenues were considered. In 2011 alone, this rich play had more than a $25 billion dollar impact on the local South Texas economy.

KARNES CITY, TEXAS - "Sitting in the bank manager's office, the man turned to his wife. "Show it to him, Mama," he said as they settled into wooden chairs across from Paul Brysch in the Karnes County National Bank. She nodded, slid an envelope from her purse and handed it to Brysch.

Reuters reports that the shale oil-rich area of Texas known as the Eagle Ford is quickly become the country's new hot spot for oil, and could rival production in the Bakken region of North Dakota within a few years:

Michael Filloon submits: It is about time Halliburton (HAL) got some love. Over the past few years, I thought this company deserved a higher valuation. As a $41 billion company, Halliburton has proved it is one of the best at what they do, but still it trades at a discount to peers. Even so, certain aspects of the oil services sector will show why there has been a bull run since June of 2010.

SWEETWATER — About a year ago, talk began circulating in this West Texas town about a huge oil-producing formation called the Cline Shale, east of the traditional drilling areas around Midland.