Updates
December 10, 2019: see first comment and / or this link: https://twitter.com/ShaleProfile?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor. For North Dakota data, ShaleProfile only analyzes/reports horizontal wells in production since 2005. The NDIC reports production from all wells in North Dakota. Having said that, the Bakken accounts for 96% of North Dakota production.
Original Post
I have not read this yet; a reader sent it to me, thank you.
I will read it later, but want to get it posted; things are moving quickly.
Link here at Forbes, December 8, 2019: US dominates new oil and gas production. By the way, this was noted earlier, different source, with great graphics. If I can find it, I will link it.
Ah, one minute later, here it is. Re-posting:
The graphic has to do with NEW oil and gas production, not total production.
New Mexico ranks above North Dakota.
Russia will barely produce more NEW oil and gas than Ohio.
Neither California nor Alaska are in the graphic.
Wyoming, Utah did not make the list but Colorado did, again for NEW gas and oil.
Pennsylvania, at 7%, is more than twice that of Russia -- that's huge, but when Ohio will produce almost as much NEW gas and oil as Russia ...
For new oil and gas production, seven out of the top 10 biggest oil and gas producers would be US states, with only Canada, Brazil and Russia making it onto the list. Pennsylvania is set to be the third, producing more than double new gas and oil that that of Russia.
I don't know how many ways one can show it, but here's another graphic. It's not so much that the US will contribute 60% of the new global production, but rather:
- it's how puny Russia's new production is in comparison
- it's that Saudi Arabia becomes a net importer (other sources) by 2029
- it's that no Mideast country is significant enough with regard to new oil and gas to get on the chart
- it's that Norway is not significant enough to get on chart either
We'll get the Director's Cut end of the week, but Shaleprofile.com nailed it several days early last month. I think they get the data from dailies or paid service or something and basically compile it themselves. See here:
ReplyDeletehttps://twitter.com/ShaleProfile?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor
I do agree they compile it themselves ... I'll post the link at the top of the blog for easier access -- a 5% jump month-over-month will be quite remarkable ... remembering of course, the September issues regarding production ....
DeleteBy the way, the data that comes out Friday is the "preliminary" number/estimate from the NDIC. The "final" number will come out next month.
DeleteAnd, oh, by the way, ShaleProfile only analyzes/reports horizontal wells in North Dakota in production since 2005. The NDIC reports production from all wells in North Dakota. Having said that, the Bakken accounts for 96% of North Dakota production.
Delete