(Updates with comment in second paragraph.)
Jan. 26 (Bloomberg) -- Oil production from the Eagle Ford formation in Texas will increase to 421,000 barrels a day by 2015, said John O’Shea, chief executive officer of Tradition Midstream LLC.
“This crude is coming on like gangbusters,” O’Shea said during a talk at the Argus Americas Crude Summit in Houston. “Domestic crude is going to displace imports over the next decade.”
North American oil supply will grow 1.7 percent annually over the next 25 years and imported crude could fall 47 percent in 2012, according to O’Shea.
--Editors: Charlotte Porter, Richard Stubbe
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