Dean Fantazzini has provided his latest estimates for Texas Oil and Natural Gas output.
Tag: US Oil Production
US Gulf of Mexico, May Production
Guest Post by George Kaplan
GoM Production
Production for May by BOEM was 1673 kbpd and by EIA 1661, compared with 1661 and 1658 kbpd, respectively in April.
March looks like the peak, at least near term, for the basin, especially with Hurricane Cindy impacting the coming June figures.
Oil Price Volatility and US EIA Data
A number of news media pieces have recently suggested that oil prices may fall due to soaring output in the US. Output from US light tight oil (LTO) may not rise as quickly as some EIA reports may suggest. One source of confusion is that the EIA creates many reports and some are more reliable than others. The two charts below cover US LTO and US crude plus condensate (C+C) output.
US LTO Output from the EIA Drilling Productivity Report (DPR) and EIA Tight Oil (LTO) estimates in kb/d.
US EIA monthly C+C output and centered 4 week average output in kb/d.
World Oil Production
A guest post by David Archibald
The views expressed in this post do not necessarily reflect the views of Dennis Coyne or Ron Patterson.
The BP Statistical Review of World Energy has oil production data by country up to the end of 2015. This is what that looks like from 1988:
The United States increased production by 5.1 million barrels per day from 2010 to 2015. The increase in production from countries around the Persian Gulf over the same period was slightly less at 5.0 million barrels per day. The increase in total world production was 8.4 million barrels per day so the rest of the world declined by some 1.7 million barrels per day. This was despite Canadian production rising 1.0 million barrels per day from oil sands developments plus some other increases from Russia, Brazil, Colombia etc. Most oil producing countries are in well-established long term decline or plateau at best. How these trends will interact can approached from a bottom-up basis. To that end, the following graphs show likely production profiles by region for the next five years. Read More
The Future of US Light Tight Oil (LTO)
The future output from the light tight oil (LTO) sector of the US oil industry is the subject of much speculation. Above I present some possible future output scenarios based on a simple model of US LTO, the scenarios are compared with the EIA’s 2017 Annual Energy Outlook (AEO) reference scenario with cumulative output of 82 Gb from 2001 to 2050. The cumulative output of the model scenarios is for the same period (2001-2050). Read More