Ron will be posting something soon on the ND Bakken. This thread is for non-petroleum comments. Thanks.
Month: July 2016
OPEC Hits New High
The new OPEC Monthly Oil Market Report is out with crude only production numbers for June 2016. OPEC added Gabon to its member countries this month. But I do not have historical production numbers for Gabon so this report does not include Gabon.
OPEC crude only production reached 32,643,000 barrels per day, (not including Gabon). This was an increase of just over a quarter of million barrels per day. See exact data below.
Open Thread Oil and Natural Gas
This thread is for comments related to oil and natural gas only. If a comment is not responded to I might move inappropriate comments to the non-petroleum thread. I reserve the right to delete comments that are off topic, I may or may not choose to do so.
Open Thread Non Petroleum
This open thread is for anything energy related that is not specifically about oil or natural gas.
Where possible comments might be moved to this thread if they are posted in the wrong place.
Petroleum Supply Monthly, Texas C+C estimate, Permian, and Eagle Ford
This post was written by Dennis Coyne and does not necessarily reflect the opinion of Ron Patterson.
I have considered an alternative way of estimating Texas oil (C+C) output using the Drilling info data provided in the EIA’s 914 monthly production reports.
The Texas estimate is a weak part of the EIA’s estimate for US C+C output. In the chart above I show the EIA’s most recent monthly estimate from the Petroleum supply monthly and compare with an alternative estimate that substitute’s my best estimate for EIA’s TX C+C estimate. The slope of the trend line needs to be multiplied by 366 to give the decline at an annual rate, for the EIA estimate it is 528 kb/d per year, and for the alternative estimate it is 364 kb/d per year. Read More