• 5 minutes Closing the circle around Saudi Arabia: Where did Khashoggi disappear?
  • 10 minutes Iranian Sanctions - What Are The Facts?
  • 15 minutes U.N. About Climate Change: World Must Take 'Unprecedented' Steps To Avert Worst Effects
  • 4 hours Can the World Survive without Saudi Oil?
  • 7 hours Sears files Chapter 11
  • 7 hours Natural disasters and US deficit
  • 4 hours China Is the Climate-Change Battleground
  • 4 hours U.S. - Saudi Arabia: President Trump Says Saudi Arabia's King Wouldn't Survive "Two Weeks" Without U.S. Backing
  • 1 hour Porsche Says That it ‘Enters the Electric Era With The New Taycan’
  • 23 hours Saudi A Threatens to Block UN Climate Report
  • 22 hours German Voters Set to Punish Merkel’s Conservative Bloc
  • 17 hours Threat: Iran warns U.S, Israel to expect a 'devastating' revenge
  • 2 days How Long Until We Have Working Nuclear Fusion Reactor?
  • 24 hours How High Can Oil Prices Rise? (Part 2 of my previous thread)
  • 2 hours $70 More Likely Than $100 - YeeeeeeHaaaaa
  • 22 hours Nothing new in Middle East? Iran Puts On 'Show Of Strength' Military Exercise In Gulf
Alt Text

The Next Pillar Of Oil Demand Growth

Pundits continue to discuss peak…

Alt Text

This Merger Creates A New Oilfield Services Giant

Two of the leading offshore…

Matt Smith

Matt Smith

Taking a voyage across the world of energy with ClipperData’s Director of Commodity Research. Follow on Twitter @ClipperData, @mattvsmith01

More Info

Trending Discussions

More Nuggets on the US Energy Boom

More Nuggets on the US Energy Boom

I didn’t intentionally seek out these nuggets on  the US energy boom – especially so quickly after my recent involvement with Miley and Mr Bieber - but they were just conveniently there. Fast food if you like. As crude oil production hits a new 28-year high and natural gas continues to achieve higher and higher record levels of production, these morsels were too tasty to pass up. Bon appetit!

1) 26% of the world’s rigs are in one US state….Texas

2) Nearly 50% of US oil production now comes from Texas and North Dakota, and specifically the Bakken, Eagle Ford and Permian shale plays:

Combined oil production 

3) It is not all about Texas and North Dakota, however. Oklahoma is storming along (there’s a thunder pun in there somewhere); it ranks 4th in US states for natural gas production, 5th for oil, and 6th for wind power

4) Cheap natural gas in the US is projected to lead to a surge in industrial projects which could boost industrial demand for natural gas by 20% by the end of the decade

5) The new kid on the block could be the Cline Shale in…yep, you guessed it…Texas. It contains an estimated 30 billion recoverable barrels, which would make it 50% larger than either Eagle Ford or Bakken

Related Article: Looking for the Next Oil Boom? Follow the Tech

6) As for existing shale plays, six formations are responsible for the surge in the Permian Basin, lifting production towards 1mbpd:

Permian Basin oil production from six formations 

7) Meanwhile, the other key shale play in Texas – Eagle Ford – sees oil production climbing above 1.4 mbpd, spurring on natural gas production almost as an afterthought from associated gas:

Oil & Natural gas production 

8) All the while, the US is only projected to have 15% of the world’s shale oil according to some estimates. The EIA projects Russia has the most technically recoverable resources at 75 billion barrels. US is second with 58 billion, and China third with 32 billion.

9) Although the US will continue to lead global shale oil production, the IEA projects 650 kbpd of production by 2020 will come from tight oil resources outside of the US

10) To better understand the fracking process, watch this 6 minute video (h/t Mark Perry)

As always, thanks for playing!

By Matt Smith of Energy Burrito




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




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