Tag: Production
Permian Basin smashes production record from 1973 by 25 million barrels
Permian production peak will push U.S. to new record liquids production by end of 2018 The prolific Permian Basin, a mature hydrocarbon ‘super basin’ located in west Texas and southeastern New Mexico, reached a new oil-production record of 815 million barrels or more* in 2017—far exceeding its previous peak of 790 million barrels set in […]
ExxonMobil starts production at Hebron Field, offshore Newfoundland
Project achieved over 40 million hours without a lost-time injury during construction Exxon Mobil Corporation announced that the Hebron project started production safely and ahead of schedule and at its peak will produce 150,000 barrels of oil per day, according to a press release. Discovered in 1980, the Hebron field is estimated to contain more than […]
CNRL to boost Alberta oil sands production 50% in 2018
2018 production targeted between 1,090,000 BOE/d and 1,170,000 BOE/d Canadian Natural Resources Ltd. announced its 2018 budget, with a capital investment of $4.3 billion, $500 million less than 2017, and a 50 per cent increase in oil sands production, according to a press release. “Canadian Natural’s transition to a long life low decline asset base is […]
New research shows Permian Basin with 60 to 70 billion barrels remaining
Over 70 Permian Basin plays production corrected Energy researchers at IHS Markit have completed the first, three-year phase of a massive Permian Basin research project that models and interprets the giant basin’s key geologic characteristics. It was done to better estimate Permian’s remaining hydrocarbon potential, and initial results indicate the giant basin still holds an […]
US gasoline production running at near record levels
After record-setting year in 2016, motor gasoline demand remained relatively high in 2017 Gasoline production by US refiners and blenders has run near record levels over the first seven months of 2017, with four-week rolling average production well above its five-year average and close to the top of its five-year range. US gasoline inventories also […]
Coal falls as gas rises: World energy balances in 2016 – IEA
Oil remains most used fuel (mainly for transport), then coal (mainly for electricity) Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in World Energy Balances, the IEA’s comprehensive picture of energy statistics. These data are drawn from official national data submissions to […]
Texas oil and gas production statistics for May 2017
Texas production in May 2017 came from 179,857 oil wells and 93,397 gas wells Production for May 2017 as reported to the Railroad Commission of Texas is 76,381,908 barrels of crude oil and 560,452,280 mcf of total gas from oil and gas wells. These preliminary figures are based on production volumes reported by operators and […]
Texas oil and gas production statistics for April 2017
Texas production in April 2017 came from 179,422 oil wells and 92,879 gas wells Production for April 2017 as reported to the Railroad Commission of Texas is 78,389,597 barrels of crude oil and 605,379,703 mcf of total gas from oil and gas wells, according to a press release. These preliminary figures are based on production […]
Oil sands panel recommends aggressive action to stay under 100 megatonne emissions cap
Oil sands production at 2.5 million b/d, projected growth to 3.7 million by 2030, expected to stay under 100 MT emissions cap The first phase of the Oil Sands Advisory Group (OSAG) concluded and released its report with recommendations to the Alberta government on keeping the growing oil sands in compliance with its legislated 100 […]
Alberta oil sands need pipelines as large output growth expected through 2019
Potential exists for further technological innovation to alter course of oil sands production in future Large oil sands production growth is expected through 2019—making Canada the second largest source of global supply growth during that time, according to a new report from IHS Markit. More modest, but sustained growth is expected beyond 2019, with oil […]
Connect
Connect with us on the following social media platforms.