After reading
the Calgary, Alberta, article that I posted below, I was curious to look at state oil production numbers again. It was this statement by the author of that Calgary article that piqued my interest.
What’s really provocative is that only 2,400 wells in the Bakken have taken the play’s production from near zero [from the Bakken Pool] to 250,000 barrels a day in six years, with the bulk of the volume growth in the past 18 months.
Some statistics of monthly oil production for top five states:
- Louisiana (includes off-shore but not outer continental shelf): 4 million barrels/month
- Oklahoma: 5.5 million barrels/month
- North Dakota (click on "Director's Cut): 10 million barrels/month; definitely increasing
- California: 17 million barrels/month with potential to increase, albeit slowly
- Alaska: 19 million barrels/month and probably decreasing
- Texas: 34 million barrels/month and with the Eagle Ford discovery, should increase significantly
EIA Crude Oil Production website is obviously the best site, but I did link other sites just for a different perspective.
That Calgary, Alberta, article is very, very interesting. Peak oil theory, anyone?
Bruce: Did you mean to say ND is increasing instead of decreasing? Thanks for the info. dholmen
ReplyDeleteMy bad! You are SOOOO correct. Thank you for catching that. I've corrected the error. I have no idea how I could make such a big mistake -- I guess I was doing this while watching Monday Night Football, but still no excuse.
ReplyDeleteAnd thank you for your kind words.
I posted this because there are indications ND could jump to number 3 position within my investing lifetime.