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.
Envirowackos must be very sad.
I’m sure the marxist left is just brimming with joy over this. Good news for the country is always bad news for the DNC.
Why would you think the Chinese technology is even comparable to ours?
My guess is they are about 20-25 yrs behind us. Hell we landed on the moon 49 yrs ago and they managed to circle it just last year. We have about 25 Aircraft Carriers, they have one and that one is second hand. If they are so bright and technologically advanced why do they rip off our and other nations technology?
Put down the bong.
I think the Chinese are a lot further ahead of us in that technology. It seems t me there is a lot less pollution generated by fusion reactors.
“Fusion power is the power generated by nuclear fusion reactions. In this kind of reaction, two light atomic nuclei fuse together to form a heavier nucleus and in doing so, release a large amount of energy. The major difference between fission and fusion reactors is that there is no possibility of a catastrophic accident in a fusion reactor resulting in major release of radioactivity to the environment.”
Din’t underestimate the Chinese when it comes to technology they think will put them ahead of the rest of the world. They have some very bright scientists and will steal whatever technology they think they need to succeed.
Drill baby Drill!
That’s sarcasm, BB. Give your detector a tune-up.
Kinda like that guy up in Post #2: “Horrible news! We are raping and destroying the earth.”
Somewhere Obama is crying into his beer. The stupid communist piece of shit couldn’t stop us.
And then those states can secede from the union because that's the answer to everything.
Thanks Red Badger.
I'm sure you're right, the Chinese will license, adapt, steal, and occasionally innovate similar recovery techniques (assuming they have shale formations that make it viable) to feed their local market, but all that will do is grow their local demand, rather than make it possible to wean off Middle Eastern / African oil.
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