Posted on 02/19/2019 1:43:23 PM PST by Red Badger
NEW YORK - U.S. oil output from seven major shale formations is expected to rise 84,000 barrels per day (bpd) in March to a record of about 8.4 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday.
The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 43,000 bpd to a record 4.024 million bpd in March.
A shale revolution has helped boost the United States to the position of world's biggest crude oil producer, ahead of Saudi Arabia and Russia. Overall crude production has climbed to a weekly record of 11.9 million bpd.
Production increases in the Permian, the biggest oilpatch in the United States, and the Bakken has led overall output increases in the country over the past year.
In North Dakota's Bakken region, shale production is estimated to rise about 13,000 bpd to a record 1.45 million bpd in March. In the Eagle Ford region, output is expected to edge higher by 9,000 bpd to about 1.44 million bpd, which would be the highest monthly output since Jan 2016.
Meanwhile, U.S. natural gas output was projected to increase to a record 77.9 billion cubic feet per day (bcfd) in March. That would be up more than 0.8 bcfd over the February forecast and mark the 14th consecutive monthly increase.
Gas production was about 65.5 bcfd in March last year.
The EIA projected gas output would increase in all the big shale basins in March.
Output in the Appalachia region, the nation's biggest shale gas play, was set to rise over 0.3 bcfd to a record high of 31.6 bcfd in March. Production in Appalachia was 26.9 bcfd in the same month a year ago.
The EIA said producers drilled 1,453 wells and completed 1,246 in the biggest shale basins in January, leaving total drilled but uncompleted wells up by 207 at a record high of 8,798, according to data going back to December 2013.
Horrible news! We are raping and destroying the earth. The new smartest woman in the world (™) AOC says we don’t need any stinking oil or airplanes.
Too bad NY isn’t getting a piece of the action.
Hubbard’s Peak, so widely discussed a few years ago, has been delayed.
It’s Peek Oil.
Everywhere they ‘peek’ they get oil.......................
The current Governor Cuomo did the same thing to the shale business that AOC did to Amazon.
Of course she was!.
And they knew it!
That’s why they set out to destroy her.
Their goal is total government control with 100% dependence on it.
Unlimited petroleum energy industry would wreck their plans, big time.................
Shale oil production can drop off just as fast as it picks up.
My understanding is there is still a huge amount of shale oil available in areas as yet untapped in N.A.
So far, so good, and getting better....
The race between gaining plentiful energy and the efforts to suppress ALL forms of conversion of energy to wealth is one of the great struggles of our time. While the industry is rising to new highs on an almost daily basis, the forces of reaction are trying desperately to put that genie back in the bottle.
And in doing so, they greatly increase the chances that their “success” can only come at the expense of the good of the entire human race. Their response? Outlaw the human race.
Yes, and all over the world as well...........................
So are we net energy independent yet? I don’t think so, but I think we’re damn close now!
If the Chinese achieve a breakthrough in Fusion reaction, it will blow all other forms of green energy away. And they will probably do it.
We are a net exporter....................
It’s only 30 years away!......................
The breakthrough will not be in Fusion Energy, but a different form of Fission Energy, Thorium-fueled Molten Salt reactors. Relatively inexpensive, and far more reliable than Uranium-fueled Light Water reactors, the Thorium reactors are much more flexible in installation, being scalable both upward and downward, that is, they may be built in a much more varied configuration than Uranium reactors, and with no chance of runaway overheating catastrophes, like Chernobyl or Fukushima Daiichi. In fact, such a runaway disaster is not possible with a Molten Salt jacket rather than Light Water jacket.
Up to now, technical problems with the fittings and suitable heat-exchange mediums have made wide-scale adoption difficult, but the principles are all known to a sophisticated atomic energy engineering community.
And - Thorium-fueled Molten Salt reactors can utilize “spent” uranium fuel rods as “seed” to initiate the reaction necessary for energy generation. Without producing plutonium as a side reaction, which is “burned” in the reaction in a Thorium-fueled atomic pile.
And the green river formation..at 3 Trillion barrels with 1 trillion recoverable with today’s technology.
All that wealth being generated and circulating in the good old USA.
Peak Oil is going to run out in like 3 years.
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