• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 14 hours Could Venezuela become a net oil importer?
  • 6 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 18 hours Tesla Closing a Dozen Solar Facilities in Nine States
  • 14 hours Gazprom Exports to EU Hit Record
  • 16 hours EU Leaders Set To Prolong Russia Sanctions Again
  • 14 hours Could oil demand collapse rapidly? Yup, sure could.
  • 1 hour Oil prices going Up? NO!
  • 14 hours Oil Buyers Club
  • 17 hours Why is permian oil "locked in" when refineries abound?
  • 7 hours Oil prices going down
  • 17 hours EVs Could Help Coal Demand
  • 24 hours China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 23 hours Saudi Arabia plans to physically cut off Qatar by moat, nuclear waste and military base
  • 5 hours Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 22 mins Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 12 hours Saudi Arabia turns to solar
Azerbaijan’s Pipeline Conundrum

Azerbaijan’s Pipeline Conundrum

Azerbaijan’s European pipeline project is…

Texas Oil Output Edges Lower In September

Oil Field Texas

Crude oil production in Texas averaged 2.38 million barrels per day (bpd) in September, compared to 2.42 million bpd for September last year, the Railroad Commission of Texas said in its preliminary production report on Monday.

For August, the Commission had reported that crude oil output in Texas averaged 2.4 million barrels per day, a rise by 0.5 percent on the year.

For the whole month of September this year, crude oil production in Texas was 71.4 million barrels, compared to the preliminary 72.8 million barrels reported for September 2015. Last year’s figure is now updated to 87.6 million barrels for September 2015 after the regulator has received all production reports.

For the past 12 months, total Texas reported production came in at 995 million barrels of crude oil and 8.1 trillion cubic feet of total gas, the commission said.

In September this year, the Karnes County in Texas, which is home to parts of the Eagle Ford, was the top-ranking producing county in the Lone Star State with 5.09 million barrels of oil produced.

Midland County, home to part of the Wolfcamp shale, ranked second in terms of production, with 5.06 million barrels pumped in September.

As regards the Wolfcamp, the U.S. Geological Survey published earlier this month an assessment of oil reserves for the shale, revealing the largest estimate of continuous oil that the agency has ever assessed.

Related: Suckered Again: How Likely Is An OPEC Production Cut?

The Wolfcamp shale in the Midland Basin, which is part of the Permian Basin, could hold an estimated mean of 20 billion barrels of oil, 16 trillion cubic feet of associated natural gas, and 1.6 billion barrels of natural gas liquids. Those figures are the largest for any single continuous pool of oil the USGS has ever surveyed.

Even if the estimate is for “continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources,” as the USGS put it, fact remains that the Permian is the hottest basin in the U.S. right now with shale formations stacked on top of each other, allowing for much lower breakeven prices than almost all of the other shale basins.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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