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3 oil output areas in US reach record production level

Oil&Gas Materials 9 July 2019 11:38 (UTC +04:00)

Baku, Azerbaijan, July 9

By Leman Zeynalova – Trend:

Three oil production areas in the US, namely Texas and the Federal Offshore Gulf of Mexico (GOM) and Oklahoma have reached record level of output in April this year, Trend reports with reference to the Petroleum Supply Monthly of the Energy Information Administration (EIA).

Reportedly, the volume of production at GOM and Oklahoma stood at 4.97 million b/d, 1.98 million b/d and 617,000 b/d, respectively,

EIA believes that the US onshore crude oil production increase is driven mainly by developing low permeability (tight) formations using horizontal drilling and hydraulic fracturing.

Crude oil production from tight formations in April 2019 reached 7.4 million b/d, or 61 percent of the US total, according to the EIA estimates.

In general, US crude oil production and lease condensate reached another milestone in April 2019, totaling 12.2 million barrels per day (b/d), according to the report.

April 2019 marks the first time that monthly U.S. crude oil production levels surpassed 12 million b/d, and this milestone comes less than a year after US crude oil production surpassed 11 million b/d in August 2018, said EIA.

EIA forecasts GOM production to average 1.9 million b/d in 2019, making this region the second-largest contributor to crude oil production growth from 2018 to 2019. “The forecasted growth is driven by 14 new fields brought online in 2018 and 9 new fields expected to come online in 2019. These 23 fields collectively are expected to contribute more than 200,000 b/d of the total 1.9 million b/d of GOM production in 2019.”

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Follow the author on Twitter: @Lyaman_Zeyn

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