The U.S. oil production is set to grow

By the beginning of 2021, 10.96 million barrels of MMbpd per day will be more than 12.9 MPB by 2030 and US oil production is expected to grow by 2030 over the next five years.

The biggest breakthrough will be in the Permanian Basin, according to Global Data. In a statement to Rigzon late Monday, the company estimates that the supply of crude oil and condensate in the region will increase from 4.5 MMbpd to 5.4 MMbpd by 0.90 MMbpd by 2021.

The U.S. 48 low-yield is set to surpass pre-epidemic levels, Global Data emphasizes. According to Global Data, the cost of unusual projects was reduced by $ 35 per barrel.

According to Svetlana Doh, an oil and gas analyst at Global Data, “Despite the sharp rise in oil prices, operators were very smart in their capital costs and began to build their strategies around high return assets.” Sent to Regzon.

He added: “As a result of the WTI price increase, the overall Ridge count in the United States has been very slow and is still at 63 percent compared to the number of ridges before the outbreak.

By H1 2021, the U.S. oil and gas reserves are constantly growing, but are down 29 percent year-on-year. During H1 2021, an average of 327 reps were active in the United States, which is 132 reels lower than H120. However, the recent recovery in oil prices has led to an improvement in the Ridge activity and in January, 332 refills were applied to major units. In June 2021, the number of dramas increased to 418, ”Doh continued.

In a statement, Doha warned that it could affect the US’s future 48 low yields, and that despite the court’s decision to suspend drilling, President Biden’s administration is trying to block rent on federal land. this year”.

“Such a measure is undergoing a lease, and this alone could hurt operators on large tracts of federal land,” Doh said. “However, the overall effect on production is not expected to be immediate. Operators have been stockpiling drilling licenses in the past, and secondly, drilling is still active on expired federal leases, ”said Doh.

The US 48 Low has a number of “rich” oil and gas plays players that significantly contribute to the economic development of the United States, and Global Data highlights the website’s highlights. This development will be driven primarily by the Permanent Basin, DJ Basin, Eagle Ford and Buccaneer, as well as the major gas lease global data for games in Haynesville, Marseille, Utica and Scoop Stack.

The US Energy Information Administration’s (IAA) latest short-term energy forecast (STEO), released on September 8, averaged 11.3 MPD in June – the most recent monthly data point. In September STEO predicted that production would remain close to that level before an average increase of 11.7 MMbpd by 2022, “due to the growth of oil production in the ocean.”

In September, the EIA said, “We expect operators to expect textile increases and improved productivity.”

To contact the author, email andreas.exarheas@rigzone.com

.

Leave a Comment