Production

Offshore production 30% of global crude oil output in 2015

News

Gulf of Mexico total offshore production grew by 6.5% from 2005 to 2015 Global offshore oil production in 2015 was at the highest level since 2010, and accounted for nearly 30 per cent of total global crude oil production, according to the US Energy Information Administration. Offshore oil production increased in both 2014 and 2015, reversing consecutive annual declines […]

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Despite overregulation, Western US E&P industry making significant economic contributions

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Western E&P sector provides $14.5 billion in wages to working families, and over $13 billion in taxes annually DENVER – According to updated economic data, the western oil and natural gas exploration and production (E&P) industry supports 177,058 jobs across the United States and remains a major economic contributor with $49.2 billion in annual economic activity,

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Saudi Arabia gambles it can raise oil prices without losing too much market

News

By John Kemp LONDON, Sept 30 (Reuters) – The Organisation of the Petroleum Exporting Countries surprised oil traders and analysts by announcing a production deal following a hastily convened extraordinary meeting in Algiers on Wednesday. The Algiers agreement seems to have been designed to engineer an increase in prices by changing market sentiment rather than reducing the

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Oil jumps on talk OPEC may have deal to limit output in Nov.

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 Iranian Oil Minister Bijan Zanganeh agreed to curb production “at close to 4 million barrels per day” By Barani Krishnan NEW YORK (Reuters) – Oil prices rose more than 2 percent in volatile trade on Wednesday on speculation that OPEC members gathered in Algeria could lay the foundation for a production-limiting deal in November. Crude futures had gyrated after a

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Utica play monthly natural gas production up from 0.1 Bcf/d in 2012 to 3.5 Bcf/d in 2016

News

 Only 104 wells in Utica play produced oil or natural gas in 2012, with most wells coming into production in 2013 or later Production of oil and natural gas in the Appalachian Basin’s Utica play—which includes both the Utica and Point Pleasant formations—has increased significantly since 2012, according to the US Energy Information Administration. Monthly

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