The play, whose biggest players are named as American explorers EOG Resources, ConocoPhillips and Australian miner BHP Billiton, is continuing to "exceed expectations" the firm said in a report.

"In terms of overall investment, from 2012 through 2015, Wood Mackenzie expects capital expenditure in the Eagle Ford to surpass the projected capex of the entire Kashagan project in Kazakhstan, the world’s most expensive standalone energy project," Callan McMahon, Upstream Research Analyst for Wood Mackenzie, said in a statement.

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