.... And How Much Of It Was Shale? One Might Ask -- January 31, 2018

Updates

February 1, 2018: Bloomberg answers part of the question.

U.S. oil production surged above 10 million barrels a day for the first time in four decades, another marker of a profound shift in global crude markets.

The milestone comes weeks after the International Energy Agency said the U.S. is poised for "explosive" growth in oil output that would push it past Saudi Arabia and Russia this year. New drilling and production techniques have opened up billions of barrels of recoverable U.S. oil in shale rock formations in the past 10 years, reversing decades of declining output and turning the nation into an exporter.

Production from Texas, which also included the Eagle Ford play, contributed 3.89 million barrels a day to the November figure, the most of any state. Production from the Gulf of Mexico and North Dakota, where the Bakken shale lies, were close behind.

Later, 3:09 p.m CT: after posting the screenshot/data below, a writer wrote me --

Continental sold X amount in October when $ low, X x 150% in November, back to X again in December (payable on January 29, 2018), prices still high, but trending upward.

Appears that if Continental expects prices to be higher the following month they increase the pump rate. "My" wells all have remote control enabling pump speed management from Oklahoma ... you've must likely touched on this before and I've forgotten.....

Yes, I've mentioned this before, in passing, but for new newbies, CLR (and others) can control their pumps remotely. I also believe that CLR no longer hedges its oil.

Original Post

Faster than expected but look at where the US could be a year from now, link here: