12 Million Barrels
WASHINGTON – U.S. oil production surpassed 12 million barrels a day in April, further extending the nation’s record output during the fracking boom, the U.S. EIA reported Monday.
“The U.S. onshore crude oil production increase is driven mainly by developing low permeability (tight) formations using horizontal drilling and hydraulic fracturing. EIA estimates that crude oil production from tight formations in April 2019 reached 7.4 million b/d, or 61% of the U.S. total,” the report read.
Texas alone produced almost 5 million barrels a day in April, up more than 25 percent from the beginning of 2018. And much of that growth has come in the Permian Basin, an aged oil field revived by new drilling technology.
A Remarkable Month-Over-Month Growth Rate
Despite facing pipeline capacity constraints, the Permian region managed to sustain a remarkable month-over-month growth rate averaging nearly 100,000 barrels per day throughout the majority of 2018. This impressive growth can be assign to a combination of factors, including industry efficiencies in pipeline utilization and the implementation of alternative transportation methods such as increased trucking and rail transport within the region. These strategies have enabled crude oil production in the Permian to not only continue its upward trajectory but also to meet the increasing demand for energy resources in the market.
The continued growth of the Permian region’s crude oil production is a testament to the resilience and innovation of the industry players operating in this area. Despite the challenges posed by limited pipeline capacity, stakeholders have demonstrated their ability to adapt and find alternative solutions to ensure the smooth flow of resources. By leveraging technologies and optimizing logistics, the Permian has been able to maximize its production capabilities and contribute significantly to the overall energy output of the United States. This sustained growth not only benefits the regional economy but also plays a crucial role in meeting the global demand for energy resources in an efficient and sustainable manner.
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Source: HoustonChronicle.com
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