Sometime in November the one billionth barrel of oil was pumped out of the Eagle Ford Shale play – that’s according to the research firm Wood Mackenzie.
More than 70 percent of that production has occurred in the last two years.
The milestone comes at a time when oil prices are going through a steep drop. Right now a barrel of U.S. crude is going for under 70 dollars a barrel. And many in the industry have discussed plans to pull back on U.S. shale production.