Many investors tend to think that all shale plays are the same, but there are vast differences between them. There are also major differences sometimes within the same shale play, and the Eagle Ford Shale is a perfect example of this variation.

The Eagle Ford Shale is located in South Texas, runs under many different counties and is centered on the Edwards Shelf trend, a 250-mile long Cretaceous age formation. The Eagle Ford Shale lies under the Austin Chalk, and above the Buda formation at depths ranging from 4,000-14,000 feet, depending on the location.

The wells drilled to the Eagle Ford Shale vary in content, from dry gas wells to those with high amounts of natural gas liquids and condensate, to wells that produce mostly oil.

There are important differences in the revenue realized from wells in different areas.  Pioneer Natural Resources provides an example of this with one of its recent completions into the Eagle Ford Shale.

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