We need to learn quickly to keep up with the massive change around us so we don't get run over. We need to outrun change.
Mark Perry shows what’s happened in U.S. oil production one simple graph.
It shows production in Texas, Alaska, California, and North Dakota, the top 4 oil-producing states, from 2002 through 2012: .
Check out the graph at Energy chart of the day: Shale oil production in North Dakota and Texas has boosted US oil production to a 17-year high.
Amazing.
Continue reading “Dramatic increase in oil production told in one graph”
A few days ago a friend of mine said the US could soon surpass Saudi Arabia in oil production. I had a hard time believing it, so didn’t give it much thought. My mistake.
Let’s look at his comment again.
An AP story today, US may soon be top oil producer in the world, says that US oil production is rising so fast that we could surpass Saudi Arabia soon.
The key sentence: Continue reading “Could the US surpass Saudi Arabia in oil production?”
A reader asked me about the production levels in Eagle Ford. That got me looking at my past posts and wanting to get some more info. So here’s the result of my checking.
I don’t yet know how to read the production data at the Texas Railroad Commission’s website. For other newbies like me, they are the regulators for oil drilling in Texas.
That means I will rely on reporting from others, like this info from Bloomberg on 9-21-12, Eagle Ford Oil Production Above 310,000 Barrels a Day in July:
190 – Bakken – from the current active drilling rig list at the N.D. Department of Mineral Resources website on 8-31-12.
274 – Eagle Ford – from EagleFordShale blog.
That is down 2 in Bakken and up 4 in Eagle Ford.
National rig count is 1,859 for 9-21-12.
192 – Bakken – from the current active drilling rig list at the N.D. Department of Mineral Resources website on 8-31-12.
270 – Eagle Ford – from EagleFordShale blog.
Continue reading “Count of drilling rigs end of August 2012 – 192 and 270 for combined total of 462”
Wood Mackenzie, an energy consulting firm, has a prediction for tight oil production in the U.S.
They are predicting 1.3 million barrels of oil per day (bopd) in each of the fields by the end of the decade. That would be about doubling production from current levels.
Reading the full article requires a subscription to Petroleum Economist.
They also predict that Bakken production will hit 750K bopd by the end of 2012.
With June production at 660k bopd and increases of around 20k or 30k bopd each month, I don’t think it will take until the end of the year to hit 750k.
(h/t: BakkenBlog News twitter feed)
I’ll start noting forecasts for Eagle Ford production when I see them.
RBN Energy has a report on the infrastructure that moves condensate from the wells to the refineries in their post – Knocking on Heaven’s Dorr – The Eagle Ford Crude Story Part III.
The lengthy post starts with this comment:
208 – Bakken – from the current active drilling rig list at the N.D. Department of Mineral Resources website on 8-2-12.
270 – Eagle Ford – from EagleFordShale blog.
That is down 7 and down 8 since my June 30 post.
Don’t worry about the drop in rig count, which went from 493 in my last post to 478 now.
Eagle Ford Shale blog reports the number of permits issued by Texas RRC:
Since May 14 when the RRC last updated the data points on its map, the commission has issued 367 permits. That’s more than 7 permits per day over a period of 50 days.
Adjust that count for the number of days and it is the rate of 220 per 30 days (367 / 50 *30).
How does that compare to Bakken?
Continue reading “New drilling permits in Bakken and Eagle Ford – May and June 2012”
IHS Global Insights has a new study out comparing the productivity of Bakken and Eagle Ford wells. Looks like the wells in Eagle Ford are pumping out more oil. The announcement of the study is at Eagle Ford Shale Drilling Results Compare favorable with Bakken, Says IHS.
Check out this comment on comparative productivity:
Continue reading “Productivity of Bakken and Eagle Ford wells”
Count of drilling rigs weekend of June 30 – 215 and 278 for combined total of 493.
Continue reading “Rig count in Bakken and Eagle Ford fields — 493 — 6-30-12”
Count of drilling rigs week of June 1 – 215 and 276.
Continue reading “Rig count in Bakken and Eagle Ford fields – 6-1-12”
Great video of presentation by Mr. Danny Brown of Anadarko Petroleum. Good explanation of the process of drilling a horizontal well used by Anadarko.
Good visuals. Superb explanation of drilling for a newcomer to energy, like me.
[youtube=http://www.youtube.com/watch?feature=player_detailpage&v=P7Z0Ri9_AWw#t=145s]
Update: link fixed – somehow the link went weird.
Continue reading “Explanation of horizontal drilling from Anadarko Petroleum”
Count of oil field drilling rigs week of May 11 – 209 & 282.
Continue reading “Rig count in Bakken and Eagle Ford fields – 5-11-12”
Discussed a superb report from UT San Antonio about the economic impact of the Eagle Ford Shale play here. That new field with very new drilling is having a huge impact on the regional economy.
Update 10-13-12: I have dramatically revised the analysis presented here. I don’t understand the amounts mentioned in the EIA report, particularly when compared to actual production data reported for July. In another post located here, I’ve revised my analysis to show that the July production is generally on track with the moderate scenario forecast. Etiquette rules for blogging and the rules I follow on my blog call for leaving the original comments in place and noting corrections. (That means I don’t do the memory hole routine.) Instead of doing a massive rewrite of this post, I have another post for an update: What’s the production level in Eagle Ford and how does it compare to some recent forecasts?
Update 2: Just in case it isn’t obvious, I continue to be amazed at the Eagle Ford field. It is a game changer nationally and internationally. You really ought to check out the research report. It is superb.
The report has great analysis of the impact on jobs, payroll, and sales tax revenue in the region. The authors have forecasts of production in 2021 and lots of data for the last few years. The report is Economic Impact of the Eagle Ford Shale. I’m neither an economist nor academician, so I can’t appreciate some of the details they have present, but they sure did ‘show their work’ as your high school algebra teacher would say, through footnotes and listing assumptions & formulas for their calculations.
As I wrote my previous post though, I realized something didn’t look right.
Here’s the fantastically wonderful problem. Expected production in April 2012 for gas & condensate is at the level they forecasted for 2014. Expected gas production is at the level projected in 2017.
Let me explain –