Trump Administration’s Offshore Oil Proposal Could Unlock 65 Billion Barrels Of Oil Equivalent
Oil & Gas Investor | January 11, 2018
The Trump administration’s proposal to open up almost all of U.S. offshore waters to oil and gas drilling could unlock up to 65 billion barrels of oil equivalent (Bboe), attracting billions of dollars in investment, consultancy Rystad Energy said on Jan. 10.
Read moreAmerican Oil Drillers' Output Could Top Saudi Arabia and Rival Russia by 2019
Tom DiChristopher | CNBC | January 9, 2018
- U.S. oil production will average 10.8 million barrels a day in 2019, according to the Energy Information Administration, a level that will rival top producers Saudi Arabia and Russia.
- EIA sees America's output at 10.3 million barrels a day this year, the highest annual average on record.
- EIA forecasts U.S. crude prices will average $52.77 this year, well below the current price near $63 a barrel.
U.S. Becomes a Net Gas Exporter for the First Time in 60 Years
Naureen S. Malik | Bloomberg Markets | January 10, 2018
America’s trade imbalance just got a wee bit smaller. The U.S. has now become a net exporter of natural gas on an annual basis for the first time since at least 1957.
Read moreSecretary Zinke Announces Plan For Unleashing America's Offshore Oil and Gas Potential
Department of the Interior | January 4, 2018
WASHINGTON – U.S. Secretary of the Interior Ryan Zinke today announced the next step for responsibly developing the National Outer Continental Shelf Oil and Gas Leasing Program (National OCS Program) for 2019-2024, which proposes to make over 90 percent of the total OCS acreage and more than 98 percent of undiscovered, technically recoverable oil and gas resources in federal offshore areas available to consider for future exploration and development. By comparison, the current program puts 94 percent of the OCS off limits. In addition, the program proposes the largest number of lease sales in U.S. history.
Read moreU.S. On The Cusp of Enjoying 'Energy Superpower' Status, Analyst Says
Sam Meredith | CNBC | January 4, 2018
- In recent years, America's unprecedented oil and gas boom has been driven by one factor above all others — and that's shale.
- "The U.S. is emerging as, not only a military and economic superpower, but as an energy superpower," Martin Fraenkel, president at S&P Global Platts, told CNBC
- In November, the International Energy Agency projected a dramatic increase in shale production could transform the U.S. into the world's largest exporter of liquefied natural gas by the mid-2020s
America Could Become Oil King Of The World In 2018
Matt Egan | CNN Money | January 3, 2018
The United States is poised to ramp up crude oil production by 10% in 2018 to about 11 million barrels per day, according to research firm Rystad Energy.
Read moreHow Does Texas' Budget Use Taxes From Oil And Natural Gas Production?
Alex Samuels | The Texas Tribune | January 5, 2018
In the 2017 budget year, the oil production tax gave the state more than $2 billion in revenue, while the natural gas production tax brought in a little less than $1 billion. But where does this money go?
Pipeline Projects Move Ahead To Tackle Rising Texas Shale Output
Bryan Sims | Reuters | December 29, 2017
HOUSTON (Reuters) - Several oil pipeline companies this month agreed to move ahead on multi-billion-dollar projects that would link Texas shale fields to Gulf Coast export hubs, offering new outlets for burgeoning output expected in 2018.
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