Sunday, August 14, 2011

Oil & Gas Briefs and Links

Proved oil reserves continue to grow larger every year, despite ongoing levels of global oil consumption. The reason for this growth is mainly due to better methods of recovery from existing oil fields more than from discovery of new fields. But it would be a mistake to think that oil discovery days are over -- far from it. When it comes to oil discovery, the best is yet to come.

Brian Wang looks at operations in North Dakota's Bakken play with graphics and projections
Oil Production by state in 2011

Top six oil producing states in 2011

1. In January 2011, crude oil production in Texas averaged 962,338 barrels a day.
2. Alaska is the second-largest oil producer of crude oil with average daily production of 670,553 barrels in February 2011 (includes natural gas liquids).
3. In December 2010, California reported average daily production of 536,800 barrels of oil from both onshore and offshore areas. This doesn't include offshore production from the Outer Continental Shelf that is regulated by the federal government, which typically averages about 35,000 barrels per day.

The state's largest oil field is the Midway Sunset field which averaged production of 85,100 barrels per day in December 2010.

4. North Dakota is producing 384,676 barrels of oil per day in June, 2011
5. New Mexico is the fifth-largest domestic oil producer with average daily production of 177,815 barrels per day in 2010.
6. Oklahoma comes in sixth in oil production, with average daily production of 147,341 barrels per day in 2010 (through November) _NBF

A busy exploration season on Alaska's North Slope

Permits for exploratory drilling in Texas' Permian Basis for August 7-14 suggest heavy drilling

New oil discoveries in New Zealand

New Norwegian Statoil discovery "high impact"

New discovery in Iraqi Kurdistan

Global oil & gas summary

Unconventional oil equivalent resources are huge, and more likely to be discovered

Time for Obama's rules for energy starvation to be revoked

Some US Federal Judges may finally be waking up

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