• 3 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 7 minutes Middle East on brink: Oil tankers attacked off Oman
  • 11 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 15 minutes CNN:America's oil boom will break more records this year. OPEC is stuck in retreat
  • 18 mins The Pope: "Climate change ... doomsday predictions can no longer be met with irony or disdain."
  • 5 hours Coal Boom in Asia is Real and a Long Trend
  • 3 hours Hydrogen FTW... Some Day
  • 3 hours China's President Xi To Visit North Korea This Week
  • 16 hours Greenpeace claims one oil rig is "pushing the world closer to a climate catastrophe"
  • 9 hours Fareed Zakaria: Canary in the Coal Mine (U.S. Dollar Hegemony)
  • 6 hours OPEC, GEO-POLITICS & OIL SUPPLY & PRICES
  • 5 hours Forbes: Giant Floating Solar Farms Could Extract CO2 From Seawater, Producing Methanol Fuel.
  • 9 hours Why Is America (Texas) Burning Millions of Dollars Per Day Of Natural Gas?
  • 7 hours Hormuz and surrounding waters: Energy Threats to the World: Oil, LNG, shipping markets digest new risks after Strait of Hormuz attack
  • 6 hours The Magic and Wonders of US Shale Supply: Keeping energy price shock minimised: US oil supply keeping lid on prices despite global risks: IEA chief
  • 11 hours As Iran Nuclear Deal Flounders, France Turns To Saudi For Oil
  • 21 hours Britain makes it almost 12 days with NO COAL
  • 2 hours Russia removes special military forces from Venezuela . . . . Maduro gone by September ? . . . Oil starts to flow ? Think so . .
Alt Text

Oil Plunges On Fears Of Weak Demand

Oil prices fell another 4%…

Alt Text

OPEC+ Has Only One Choice As Oil Prices Slide

With oil prices falling on…

Ron Patterson

Ron Patterson

Ron Patterson is a retired computer engineer. He worked in Saudi Arabia for five years, two years at the Ghazlan Power Plant near Ras Tanura…

More Info

Trending Discussions

Texas Oil Production Remains Strong…But For How Long?

Dean Fantazzini has provided his latest estimates for Texas Oil and Natural Gas output.

(Click to enlarge)

Data below is for Texas C+C estimates in kb/d.

(Click to enlarge)

Data below is for Texas Natural Gas in billions of cubic feet per day (BCF/d).  All data uses all vintage data for the correction factors and 3 months uses only the average of the correction factors for the most recent 3 months.

The chart below shows how the correction factors have changed over time, the average of these correction factors for T to T-11 are found for all vintage data (all shown in chart), most recent 3 months, and most recent 12 months and compared with EIA data. The average correction factor is added to the most recent Texas RRC reported output data. For the current report T= June 2017, T-1= May 2017, etc. The actual estimate in the first chart shown above uses Data for T to T-23, but I only showed the data for T to T-11 in the chart below. The correction factors get progressively smaller as we go further back in time (T-23 is the smallest).

(Click to enlarge)

Related: Goldman Sachs Warns Of Global Oil Demand Peak

After June 2016, there was a shift in the correction factors to lower average values. The table below shows the average correction factors for the most recent 12 months (July 2016 to June 2017) and compares with the average correction factor from earlier data (April 2014 to June 2016). The RRC data seems to be improving, but for the most recent 7 months (Nov 2016 to June 2017) about 100 kb/d to 500 kb/d needs to be added to the RRC data to “correct” for incomplete data. Those with access to the “pending file” from the RRC have a better shot at a good estimate. This data is included in the estimates from drilling info for Texas.

By Peak Oil Barrel

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment





Oilprice - The No. 1 Source for Oil & Energy News