Drilling Productivity Report
http://www.eia.gov/petroleum/drilling/pdf/dpr-full.pdf
For key tight oil and shale gas regions
March 2015
Posted on 03/10/2015 1:56:44 PM PDT by thackney
The U.S. shale boom may finally be slowing down, according to projections from the U.S. Energy Information Administration.
Oil production from the six largest shale plays in the U.S. will hit 5.6 million barrels per day in April, an increase of less than 300 barrels per day over March, the EIA said in its monthly drilling productivity report on Monday. The increase would be the smallest since February 2011.
If the EIA’s projection holds, April’s production would be a drastic decrease from a record-breaking surge in 2014; in 10 of the last 16 months, U.S. oil production gained at least 100,000 barrels per day.
A slower April could help chip into the crude oil supply glut that has dragged prices down by at least half their peak in June 2014, when West Texas Intermediate crude traded at $107. WTI was trading near $48.50 early afternoon on Tuesday.
The Eagle Ford shale in Texas and the Bakken in North Dakota are projected to lose some production; the Eagle Ford will slow by about 10,000 barrels to 1.7 million bpd, and the Bakken will lose almost 8,500 barrels to fall to 1.3 million bpd.
Production in the Permian Basin will continue to rise, but by its smallest margin since November 2013, gaining 21,000 barrels to increase to 1.98 million bpd.
Drilling Productivity Report
http://www.eia.gov/petroleum/drilling/pdf/dpr-full.pdf
For key tight oil and shale gas regions
March 2015
Production slowdowns due to price collapse. And the government running out of places to put all the oil it has been buying.
The government has not been buying oil.
Poor choice of words. I was referring to the strategic petroleum reserves.
I don’t know about oil, but I do believe that the government has been buying vehicles. Maybe not Fords, but every local police force in my area has been outfitted with new Chevy Tahoes. I understand that the same is true in other areas. Chevy. GM. I wonder where everyone got the money for them.
I was thinking of the top two articles here:
http://freerepublic.com/focus/search?s=US+oil&ok=Search&q=quick&m=all&o=time&SX=54ff6b850646283a3b63eb6842602349750c49c7
That volume has not changed in quite a while. It has been ~95% full for a few years.
The stocks that have been filling up in the recent months are commercial stocks, refineries, terminals and commercial storage yards.
U.S. Ending Stocks of Crude Oil in SPR
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCSSTUS1&f=M
Weekly U.S. Ending Stocks excluding SPR of Crude Oil
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCESTUS1&f=W
Ford stopped making the rwd Crown Vic in 2011. That was the gold standard for police cars.
Front wheel drive sedans have generally performed poorly in police service due to durability issues.
Thus the move to rwd SUVs, Ford Explorer, Chev Tahoe, etc as the Crown Vics age out. Dodge makes a rwd sedan but these don’t seem to have the interior room the cops prefer.
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