Declining profit margins, reduced expectations for quick price recovery prompted many GOM operators to reduce deepwater exploration spending in 2015, 2016 U.S. crude oil production in the Federal Gulf of Mexico (GOM) increased slightly in [Read more]
Permian Basin spans 53 million acres across western Texas and southeastern New Mexico Recent growth in U.S. crude oil production has been primarily light, sweet crude oil, defined as having an API gravity of 35 [Read more]
Production levels in Colorado, Oklahoma, North Dakota each grew by more than 30,000 b/d from 2016 to 2017 Annual average U.S. crude oil production reached 9.3 million barrels per day (b/d) in 2017, an increase [Read more]
Push carbon-intense heavy crude oil from Venezuela, Mexico, Colombia, etc out of global market with de-carbonized Alberta oil sands crude My understanding of the Paris climate agreement: humankind agreed to de-carbonize the existing energy system [Read more]
Texas Railroad Commission values show production at 2.99 million b/d in that same month Crude oil and lease condensate production data for Texas, published by EIA in its Petroleum Supply Monthly (PSM) and by the Texas Railroad Commission (TRRC), [Read more]
Using Canadian oil would lower global greenhouse gas emissions compared to a business as usual option At a time when Canadian pipelines are chock full and not enough rail capacity is available to get all of [Read more]
Increasing US crude oil production and expansions of pipeline capacity and export infrastructure facilitated increased exports U.S. crude oil exports grew to an average of 1.1 million barrels per day (b/d) in 2017, the second [Read more]
In 2017, petroleum product exports to Mexico rose in both amount and value In each of the past three years, the value of U.S. energy exports to Mexico has exceeded the value of U.S. energy [Read more]
Outages from wildfires in Alberta, Canada and militancy in Nigeria slowed the decline in Venezuela’s exports Venezuela’s crude oil production has been on a downward trend for two decades, but it has experienced significant decreases [Read more]
Crude oil and stock markets often move independently because of factors specific to each market For four consecutive days in early Feb., stock market implied volatility surpassed crude oil price volatility for the first time since 2008, [Read more]
New Energy Realism: minimal regulation, technical innovation, reliance upon market forces and capital investment Rick Perry gave a fascinating speech at CERAWeek Wednesday. Canadians should pay attention for two reasons. One, the Canadian industry’s recently [Read more]
Tight oil estimated to make up 77% of total US production by 2050 EIA’s recently released Annual Energy Outlook 2018 (AEO2018) Reference case projects that U.S. tight oil production will generally increase through the early 2040s, when [Read more]
Commercial stocks of crude oil provide 452 million barrels, equivalent to another 172 days of import protection Recent legislation has directed the sale of more than 100 million barrels of oil from the U.S. Strategic [Read more]
By 2030, US net petroleum exports will total 5.3 million b/d EIA projects that the United States will become a net energy exporter in 2022 in the newly released Annual Energy Outlook 2018 (AEO2018) Reference case, primarily [Read more]
Renewable electricity generation costs expected to continue declining, especially for solar photovoltaic systems The US Energy Information Administration says that continued development of American shale and tight oil and natural gas resources paired with modest energy [Read more]
China’s crude oil imports will likely continue to increase over at least the next 2 years China surpassed the United States in annual gross crude oil imports in 2017, importing 8.4 million barrels per day (b/d) compared [Read more]
Production continued to increase through price fluctuations in Bakken and Permian basins U.S. crude oil production reached 10.038 million barrels per day (b/d) in Nov. 2017, according to EIA’s latest Petroleum Supply Monthly. Nov. production is [Read more]
As of 2016, 670,000 of 977,000 producing wells in the United States were hydraulic fractured and horizontally drilled In 2016, hydraulically fractured horizontal wells accounted for 69 per cent of all oil and natural gas [Read more]
Previous years, Canada received most U.S. crude oil exports because exports to other markets were banned From late Aug. through Sept. 2017, Hurricane Harvey caused disruptions to the U.S. Gulf Coast refining sector, resulting in record-high U.S. [Read more]
Climate, resource extraction, large transportation sector contribute to high oil consumption Canada is the third largest consumer of oil per person among the world’s most economically advanced countries (the OECD), according to the National Energy Board. [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
Get the eBook, The New Alberta Advantage: Technology, Policy, and the Future of the Oil Sands, written by our founder and publisher, Markham Hislop, for FREE.
Sign up now and get exclusive access to your FREE download in the next newsletter and receive Energi Media Weekly Update straight to your inbox too!
