The EIA released the latest edition of their Electric Power Monthly on February 27th, with data for December 2017. The table above shows the percentage contribution of the main fuel sources to two decimal places for the last two months and the full year 2017 (YTD). Read More
(Details for the chart above are explained in the post.)
The Texas Railroad Commission (RRC) had the oil and gas production reported online in early 2005, and became fully online for producers and the public on Feb 14, 2005. At the time it was set up, it required the producers to input their production in the production file for existing approved leases, and in the pending lease data file for those leases which have not yet received an approved lease number by the RRC. Each month, the RRC only reports the oil and condensate that is currently updated that month which is in the production file.
Historically, the production did not seem to be completely reported. The lag time to near full reporting of RRC production went from almost 18 months, down to about nine months within the past two years. Even at nine months it leaves interested parties trying to find some way to estimate what current Texas oil production is. Read More
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Brazil had a fairly uneventful 2017 for C&C production. Overall production was up 4.5% at 957 mmbbls (114 kbpd average), but the December exit rate was down 4.5%, or 124 kbpd, at 2612 kbpd. There were only two new platforms with significant ramp-ups, and one of those went off line for a couple of months late in the year. The Libra (now Mero) extended test FPSO came on line in November but had achieved only 11 kbpd.
Pre-salt production exceeded 50% for the first time. It was 1356 kbpd, or 52%, in December compared to 1262, or 46%, for December 2016. There were 85 pre-salt wells up from 68, but average production for each had fallen from 19 kbpd to 16, which is as expected as they were drilled mostly on producing platforms.
Petrobras owned 94% of December production, with Statoil at 2.4% (63 kbpd) and Shell, from their BG purchase at 2.1% (57 kbpd); for 2016 the numbers were 94%, 2.1% and 2.0%.
(Note that December water data wasn’t available at the time of writing so the water cut values have been assumed to be the same as November for the chart.)
Santos platforms increased overall, but some of the older ones may be showing signs of coming off plateau. Campos platforms declined and the rate may be increasing as the water cut growth is accelerating.
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