Thursday, April 28, 2011

US Government: Lease Sales Off Mid-Atlantic, South-Atlantic Won't Occur Before 2017

From the 2011 Energy Information Agency (EIA-US) update, 2009 - 2035:
Rising world oil prices, growing shale oil resources, and increased production using enhanced oil recovery techniques contribute to increased US oil production to 2035 in the AEO2011 reference case. From 2009 to 2035, US crude oil production is forecast to increase by about 600,000 b/d. [Blog comment: Bakken could account for much of this.]

Bakken shale oil contributes to oil production growth in the Rocky Mountain region, and growth in the Gulf Coast region is spurred by resources in the Eagle Ford and Austin Chalk formations, while some of the decline in oil production in the southwestern US is offset by production from the Avalon shale formation, according to the outlook.

Lower 48 offshore production increases by 13% between 2009 and 2035 in the reference case. According to the recent Bureau of Ocean Energy Management, Regulation, and Enforcement leasing plan, lease sales in the Mid-Atlantic and South-Atlantic Outer Continental Shelf will not occur before 2017. Oil shale liquid production, which comes on line in the Rocky Mountain region in 2029 in the reference case, accounts for about 2% of total US oil production in 2035.

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