shale oil – Page 12 – Peak Oil Barrel

US Oil Production Nears Previous Peak

08/30/201508/30/2015 Ron Patterson 511 Comments

The EIA’s Monthly Energy Review came out a couple of days ago. The data is in thousand barrels per day and the last data point is July 2015.

US consumption of total liquids, or as the EIA calls it, petroleum products supplied, reached 20,000,000 barrels per day for the first time since February of 2008.

Something I never noticed before, consumption started to drop in January 2008, seven months before the price, along with world production, started to drop in August 2008. This had to be a price driven decline. Could the current June and July increase in consumption be price driven also?

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Jean Laherrere’s Bakken Update

08/24/201508/24/2015 Ron Patterson 936 Comments

Jean Laherrere sent me the below charts the other day. I had planned on posting them with more Bakken data. But my schedule has been busy so I am posting them alone.

Jean’s interpretation for ND is as follows

Bakken ultimate = 3 Gb

Non Bakken ultimate = 2.2 Gb

ND ultimate 5.2 Gb

Detail

Quite symmetrical like the EIA drilling productivity data, but in contrary to EIA/AEO2015 with a peak in 2020

It will be interesting to see the evolution in the next few months

The Hubbert Linearization puts the Bakken about half way to the end.

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Texas RRC June Production Data

08/19/201508/19/2015 Ron Patterson 710 Comments

The Texas RRC Oil & Gas Production Estimates are in. By now everyone should know that the Texas oil and gas data is incomplete and the drooping data lines will eventually look more like the EIA lines as the more and more data comes. The EIA data is only through May but all Texas Railroad Commission data is through June.

It appears that Texas C+C was flat to slightly up in June.

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Bakken Production Data and STEO Predictions

08/14/201508/14/2015 Ron Patterson 554 Comments

The Bakken Production Statistics and the ND Production Statistics with June production numbers has been published.

Bakken production was up by 10,887 barrels per day to 1,152,455 BPD while all North Dakota production was up by 8,565 barrels per day to 1,211,180 BPD. Bakken production is still 11,068 bpd below their December high while all North Dakota production is still 17,240 bpd below their December high.

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Texas RRC Oil & Gas Production

07/22/201507/22/2015 Ron Patterson 610 Comments

The Texas RRC Data is out. All RRC data below is through May. The EIA data is through April.

There appears to be an increase in Texas May crude oil production. You will notice that the EIA has departed from their usual practice of just estimating Texas C+C production up about 50,000 bpd for every month for the last six months or so. They have a new method or estimating Texas production which is explained in the first link below the charts.

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