Comprehensive Energy Data Intelligence
Information About Energy Companies, Their Assets, Market Deals, Industry Documents and More...
Texas Crude 2019 Production: Rigs Down, Production Up
05/07/2020
As you know the US Oil Rig Count has dropped by over 20% from January to December 2019. In Texas we saw oil rigs count dropping over 30% in that same time frame. However, the numbers show that the rig count has not affected oil production in a negative way.
We at Rextag have gathered some key facts about crude oil production in the US.
US crude oil production has reached a record level of 12.23 million barrels per day (b/d) in 2019. That is a 11% growth compared to the previous year. Crude oil production in 2018 was 10.9 million barrels per day.
The all time high in monthly oil production was reached in November 2019, when an average of 12.86 million b/d were produced in the United States.
In the past ten years, crude oil production in the US has registered a growth of over 220%. This is mostly due to production from tight rock formations developed using horizontal drilling and hydraulic fracturing.
Despite oil rig count dropping over 30% from January to December 2019, Texas crude oil production has hit an all time high in December 2019, with a production of 5.35 million b/d. Compared to the previous year, we have seen an increase of almost 660,000 b/d.
Since 2010, Texas crude oil production has registered a growth of over 330%, namely an increase in production by 3.9 million b/d.
In 2019, Texas accounted for 41% of US crude oil production. The Permian region is, as expected, what drives these numbers so high and will most likely keep Texas as the top oil producing state in the US.
Texas Field Production of Crude Oil
The Permian region has also boosted crude oil production in New Mexico, setting a new record for oil production in the state. Compared to 2010, there was a growth of 749,000 b/d.
Taking a look at the Offshore Federal Gulf of Mexico (the U.S. controlled waters in the Gulf of Mexico) we can also notice a production growth of 126,000 b/d in 2019. This has led to the Offshore Federal Gulf of Mexico’s highest annual average production of 1.88 million b/d.
Other states such as Colorado, North Dakota and Oklahoma have also reported a growth in production.
This increase in oil production was not however reported in all states. The oil production in Alaska has dropped for the second year in a row and also in California we can see a decline in production for the fifth year in a row.
If you are looking for more information about energy companies, their assets, and energy deals, please, contact our sales office mapping@hartenergy.com, Tel. 619-349-4970 or SCHEDULE A DEMO to learn how Rextag can help you leverage energy data for your business.
Top Crude Refineries Serving Permian
A total capacity for the area is as high as 8,576,325 Bcd according to Rextag count
U.S. Natural Gas Pipelines Infrastructure Overview by Rextag
The U.S. natural gas pipeline network is a complex system of pipelines that transport natural gas from production areas to consumers across the country. The pipeline network consists of three main types of pipelines: gathering pipelines, transmission pipelines, and distribution pipelines. Gathering pipelines are small-diameter pipelines that transport natural gas from production wells to processing facilities or larger transmission pipelines. Transmission pipelines are large-diameter pipelines that transport natural gas over long distances, sometimes across multiple states. Distribution pipelines operate at low pressure and are located in or near urban areas. They are often referred to as "utility pipelines" because they are typically owned and operated by local gas utility companies.
Kinetik Holdings recently announced a series of transactions in the energy sector. They struck a deal to buy Durango Permian infrastructure for $765 million. At the same time, they're selling their 16% share in the Gulf Coast Express Pipeline to ArcLight Capital Partners for $540 million. The total purchase cost includes $510 million in cash paid immediately and an additional $30 million that will be paid later, depending on whether they decide to expand further.
Recently, the Permian has seen significant acquisitions: Exxon Mobil purchased Pioneer Natural Resources for about $60 billion. Diamondback Energy's $26 billion deal to acquire Endeavor Energy Resources is currently on hold due to requests from the U.S. Federal Trade Commission. Occidental’s acquisition of CrownRock for $12 billion in the Midland.
EOG Resources is pushing boundaries in Ohio's Utica oil play and now drilling on the Sable pad, also located in Noble County. This site features the 3.7-mile lateral currently under construction. The company's first multi-well pads in the area Timberwolf and Xavier have each produced over 200,000 barrels of oil since their inception—Timberwolf in August and Xavier in October. A third site, the four-well White Rhino pad in Noble County, is also showing promising early results, according to Keith Trasko, EOG’s Senior Vice President of Exploration and Production, who noted the wells are performing as expected in their initial weeks.