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| Economy |
| New Shale Formations adding to US Production |
| 2011-04-29 |
| Article by US Govt Energy Info Admin. Following declines in all but one year from 1986 to 2008, U.S. oil production (crude oil and lease condensate) increased in 2009 and again in 2010. Due in part to Hurricanes Ike and Gustav, average production dipped below 5.0 million barrels per day (bbl/d) in 2008, then climbed to 5.4 million bbl/d in 2009 and 5.5 million bbl/d in 2010, with 2010 volumes representing an 11 percent increase over 2008. The article shows the growth due to oil Shale formations. The Bakken alone is responsible for much of the recovery. The Eagle Ford formation (in Texas) has about as much potential as the Bakken, maybe more, and there are several other oil shale formations with substantial potential (although, alas, mostly to produce methane). Also we have lost production from the Gulf over the past year. |
| Posted by:Lord Garth |
| #12 You guys are thinking all wrong! Shale oil is evil! Extracting it produces CO2. Burning it produces CO2.We must shut it down. Better to produce less here and pay $5-6/gallon of gasoline to other countries. /sarcasm |
| Posted by: Rambler in Virginia 2011-04-29 20:05 |
| #11 But but....drilling is fun! Who needs things like cell phone coverage, towns with more than 20 people (They got a bar, so what more can you want.) and you have to drive 75 miles to find a Wal-Mart, if you're lucky. Besides, think of all the scenery! |
| Posted by: Silentbrick - Lost Drill Bit Division - Halliburton 2011-04-29 17:35 |
| #10 "We've lost about 250,000 barrels a day of production out of the gulf. By next year it's going to be 400,000 barrels a day. I don't know how many gallons of gas that is; it's about 8.8 million gallons of oil going into the refinery." Thing From Snowy Mountain From down here in Texas where some gulf oil drilling has stopped, all I know is "I'm on Empty, and Obama is just filling me up with lies." |
| Posted by: Large Shuper1125 2011-04-29 17:30 |
| #9 Livin' La Vida NoDak is not for everyone. |
| Posted by: Anguper Hupomosing9418 2011-04-29 15:50 |
| #8 More than welder's and truck drivers are needed. Companies are desperate for Rig hands, directional and MWD. Halliburton is hiring! We still don't have nearly enough people and it is very good pay. But it is also a serious lifestyle change. Directional and MWD hands work the well. We're here from start to finish and right now a Bakken well is averaging 35-40 days. Then you get about 10 days off and for many, living on the rig for that long just isn't for them. |
| Posted by: Silentbrick 2011-04-29 14:33 |
| #7 WHAT A BARREL OF CRUDE OIL MAKES gasoline 19.5 gallons distillate fuel oil 9.2 kerosene-type jet fuel 4.1 residual fuel oil 2.3 liquefied refinery gasses 1.9 still gas 1.9 coke 1.8 asphalt and road oil 1.3 petrochemical feedstocks 1.2 lubricants 0.5 kerosene 0.2 other 0.3 --------- Total 44.2 gallons |
| Posted by: Zebulon Thranter9685 2011-04-29 12:24 |
| #6 truck drivers and welders needed in N dakota. Long hours, crappy housing, good pay. |
| Posted by: bman 2011-04-29 11:23 |
| #5 Earlier this morning I thought it was 22, but now I don't remember. I think I had morning brain. |
| Posted by: Thing From Snowy Mountain 2011-04-29 10:49 |
| #4 Since a 'Barrel" is standardized at 40 Gal, that's a 50% loss. SO diesel, and "Other" oils come out of that. I see NO Wastage. |
| Posted by: Redneck Jim 2011-04-29 10:43 |
| #3 A barrel of oil produces about 20 gallons of gasoline. |
| Posted by: Zebulon Thranter9685 2011-04-29 10:35 |
| #2 But what about Peak Oil? The truth is there are vast hydrocarbon resources just waiting for the right technology to extract them. |
| Posted by: phil_b 2011-04-29 10:09 |
| #1 We've lost about 250,000 barrels a day of production out of the gulf. By next year it's going to be 400,000 barrels a day. I don't know how many gallons of gas that is; it's about 8.8 million gallons of oil going into the refinery. |
| Posted by: Thing From Snowy Mountain 2011-04-29 09:40 |