Texas set to surpass many OPEC countries

WOAI:
Oil and gas production in the Eagle Ford Shale in 2014 is expected to surpass 1 million barrels per day, up from the current 650,000 barrels per day, which will help Texas alone produce more oil than several nations who are members of the OPEC oil cartel, 1200 WOAI news reports. 
“By some time next year it is almost certain that we will have two separate oilfields in Texas producing over 1 million barrels of oil per day,” Thomas Tunstall, the Research Director at UTSA’s Institute for Economic Development and an expert on the Eagle Ford, told the annual meeting of the South Texas Energy and Economic Roundtable.

That two million barrels per day from the Eagle Ford and from the rapidly growing Klein Shale fields in the Permian Basin, not counties traditional oil drilling in Texas, surpasses the output of four OPEC countries, and Tunstall says that fracking production is key in allowing the U.S. this year to surpass Russia to become the largest producer of oil and gas in the world.
...
There is more.

UTSA has come a long way on its predictions,  The eagle Ford has already exceed their earlier prdictions and the later ones seem more realistic.  The Klein Shale formation is near the Permian Basin and has the potential to be much larger than the Eagle Ford.

Also see this analysis of "Saudi Texas."

Comments

Popular posts from this blog

Police body cam video shows a difference story of what happened to George Floyd

The plot against the President

While blocking pipeline for US , Biden backs one for Taliban