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Title : Canadian CBR, Slawson, The Dockets, And All That Jazz, Page 5 -- September 3, 2018
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Canadian CBR, Slawson, The Dockets, And All That Jazz, Page 5 -- September 3, 2018

US crude oil production hits record -- EIA. Record hit due to Texas production - Reuters.  Data points:

• crude oil, US data:
• • June, data: US production rose 2%, month-over-month
  • June, data: US production, rose 231,000 bopd
  • June, data: 10.674 million bopd 
  • the agency also revised the May estimate to 10.4 million bopd (up 1,000 bopd from original estimate -- wow, talk about "false precision" -- 1,000 bopd)
• Texas:
• • output climbed 165,000 bopd; or 3.9% to 4.4 million bopd
• Gulf of Mexico:
• • climbed 10.3%, or 154,000 bopd to 1.7 million bopd 
• US natural gas in the lower 48, June: an all-time high of 90.8 billion cubic feet, 
• • May: a prior record; 89.9 bcfd
  • Pennsylvania: second biggest gas producing state: 16.5 bcfd in June
  • The US has been the world's biggest producer of natural gas since 2009, ahead of Russia.

I did not realize that -- it's been almost ten years since the US took the lead in natural gas production, back in 2009. The US fracking revolution began in 2000; the Bakken boom began in 2007.

Guyana update, for those concerned about off-shore drilling. From Rigzone:

Following Exxon Mobil Corp.’s latest Hammerhead-1 discovery, the company’s ninth discovery offshore Guyana, it’s believed the country will create the greatest value of any offshore basin since the downturn.

.... the Hammerhead discovery as a “another play-opener” that adds to more than four billion barrels of oil equivalent of reserves through an exploration program that has a current success rate of 82 percent.

... almost 18 prospects left to pursue in the Stabroek block, the project is bound to get bigger. 

[To make this successful,] Guyana must first develop institutional and regulatory framework in order to effectively manage the emerging sector.

Guyana has hit the jackpot. If this small South American nation with a population of about 750,000 can properly manage the billions of dollars of revenue about to come its way, it may become the richest corner of the continent.

https://ift.tt/2dZyQXu

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