The exponential rise in ‘Saudi Texas’s’ oil output continues – production has doubled in only 27 months!

[Valin]

AEIdeas:

Mark J. Perry

July 31, 2013

 

 

The Energy Information Administration (EIA) released new US crude oil production data yesterday for the month of May by state, and one of the highlights of the monthly update is that oil output in Americas No. 1 oil-producing state Texas continues its phenomenal, meteoric rise. Here are some details of oil output in Saudi Texas:

 

1. Texas produced an average of 2.525 million barrels per day (bpd) of crude oil in May, which is the highest average daily output in the state in any month since April 1982, slightly more than 31 years ago (see chart above). Compared to a year earlier, oil output in Texas increased by almost 31% in May, posting the 20th straight month starting in October 2011 that the states oil output has increased by more than 30% on a year-over-year basis.

 

2. Amazingly, oil production in the Lone Star State has more than doubled in only 27 months, from 1.233 million bpd in February 2011 to 2.525 million bpd in May 2013, which has to be one of the most significant increases in oil output ever recorded in the history of the US over such a short period of time. A 1.29 million bdp increase in oil output in only 27 months in one US state is remarkable, and would have never been possible without the revolutionary drilling techniques that just recently started accessing vast oceans of Texas shale oil in the Eagle Ford Shale and Permian Basin fields.

 

(snip)

 

 

BTW The Saudis are...concerned

[clearvision]

BTW The Saudis are...concerned

 

Well, the Saudis can hit the soil they live on.

[Valin]

 

BTW The Saudis are...concerned

Well, the Saudis can hit the soil they live on.

 

About 6-7 years ago I read a piece about the Saudi royal family, and the...."discussion" going on inside it. One group saw this coming and has been trying to warn the family.

Don't expect anything to happen soon. 20-30 years from now? The thing is this damn stuff (shale oil is all over the place. The major advantage we have is where our shale oil is the land is flat, in many other places it goes up and down.