Friday, May 1, 2020

US Crude Oil And Natural Gas Production, February, 2020, Data -- EIA

See first comment at this link: the EIA 914 was posted yesterday for February, 2020, data. Link here.
  • EIA 914 out yesterday. FEB data.
  • US up +87,000 bopd
  • crude oil, major plays:
    • GOM, back over 2 MM bopd; see first comment;
    • ND back over 1.4 MM bopd;
    • NM, close to 1.1 M bopd, now; see first comment;
    • OK, back over 550 M bopd.
    • KY (very small production, probably some data collection or seasonal production issue)
    • CO was down a fair amount;
    • TX close to flat (down slightly).
  • On that natural gas side, 
    • ND popped back over 3 BCF/d;
    • TX and PA are still nosing around near iconic records, at just under 30 and 20 BCF/d, respectively
    • overall US natural gas production was down a bit...makes sense given how miserable nat gas prices have been.
This will be linked over at the "Permian or the Bakken, WTI Beatdown" at the sidebar at the right.

California: perhaps the most interesting data point in the February EIA data -- the California production data. There are eight states (and the Gulf of Mexico) that account for most of the crude oil produced in the US. Of the eight states, California:
  • comes in at 7th place, just slightly behind Alaska and well ahead of Wyoming
  • had the largest percentage drop in crude oil production, year-over year
  • in fact, it was one of the very, very few states that had a drop in production, year-over-year; and,
  • it should be noted, California is the poster child for expensive gasoline among the lower 48, and relies heaving on oil from Saudi Arabia;
Link here.


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Trump And Imported Oil

The fact that the Trump administration has taken no action on this issue yet (Saudi Arabia "dumping" oil on the global economy below cost) suggests to me that Trump sees this as a "wash." The big loser: Iran. Saudi Arabia and Russia certainly aren't going to do well with $20 oil.

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Touchless Massage

A reader reminded me of this episode of Big Bang Theory

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Can't Give It Up

Meghan still using "Sussex Royal" after the Queen banned it, and Harry said they would quit using it. Hypocrites.

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Can't Get Him Signed

Dak Prescott still not signed.

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I Said This Months Ago
(Okay, Maybe A Month Ago)

The most ill-named government agency.

Link here

5 comments:

  1. GOM and NM hit records in FEB.

    ReplyDelete
    Replies
    1. Thank you. I will point that out in the post above. Much appreciate. This has to be a real dilemma for faux environmentalists in New Mexico; cognitive dissonance.

      Delete
  2. $12 a barrel isnt doing my royalty checks any good!

    ReplyDelete
    Replies
    1. Imagine the anxiety of the ND legislators.

      Delete
    2. The good news: they can always raise taxes to make up for the "deficit."

      Delete

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