BAKU, Azerbaijan, March 2
By Leman Zeynalova - Trend:
Annual US crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, 1.24 million b/d, or 11 percent, more than 2018 levels, Trend reports citing the US Energy Information Administration’s (EIA) Petroleum Supply Monthly.
In its latest Short-Term Energy Outlook, EIA forecasts US crude oil production will continue to increase in 2020 to an average of 13.2 million b/d and to 13.6 million b/d in 2021. “Most of the expected production growth will occur in the Permian region of Texas and New Mexico.”
“The 2019 growth rate was down from a 17 percent growth rate in 2018. In November 2019, monthly U.S. crude oil production averaged 12.86 million b/d, the most monthly crude oil production in U.S. history, according to the has increased significantly during the past 10 years, driven mainly by production from tight rock formations developed using horizontal drilling and hydraulic fracturing to extract hydrocarbons,” said EIA.
The report shows that Texas continues to produce more crude oil than any other state or region of the United States, accounting for 41 percent of the national total in 2019.
“Texas crude oil production averaged 5.07 million b/d in 2019 and reached a monthly record of 5.35 million b/d in December 2019. Texas’s production increase of almost 660,000 b/d in 2019—driven by significant growth within the Permian region in western Texas—was 53 percent of the total US increase for the year. Texas crude oil production has grown by 3.9 million b/d, or 333 percent, since 2010.”
This is while in the Offshore Federal Gulf of Mexico (the US controlled waters in the Gulf of Mexico), new projects contributed to the region’s growth in production in 2019.
“Oil and natural gas producers brought online seven new projects in 2019, and EIA expects nine more will come online in 2020. The Offshore Federal Gulf of Mexico’s crude oil production grew by 126,000 b/d in 2019, leading to the area’s highest annual average production of 1.88 million b/d. The Offshore Federal Gulf of Mexico was the second-largest crude oil producing region in the United States in 2019.”
---
Follow the author on Twitter: @Lyaman_Zeyn