Russia Hits Post-Soviet Record of 10.74 MMBOPD Russian oil output hit 10.74 million barrels a day in September, the highest level of production seen in the country since the fall of the Soviet Union, reports The Wall street Journal. The post-Soviet record represented a 0.4% increase from production in August, which reached 10.68 MMBOPD. The gains were in large part
Both consumption and production of natural gas in the U.S. were the highest on record for the month of May in 2015 The Energy Information Administration (EIA) reported today that dry natural gas production was the highest ever recorded in the administration’s database. Consumption was the highest on record for the month, dating back to 2001, according to the EIA’s
Rig count for the week ended July 31, 2015 The total number of rigs actively drilling for oil or natural gas in the United States declined this week to 874, down two from last week. The number of rigs drilling for oil increased again this week, while the number looking for gas slipped for a second week in a row,
“If you are Saudi Arabia…you would go to full capacity” Goldman Sachs and Citi Group predict that Saudi Arabia will likely start to push production to its daily maximum of 11 MMBOPD in the second half of 2015, reports Bloomberg. “If you are Saudi Arabia and you’re looking at the new oil order we live in, you would go to
The Clean Power Plan could dramatically alter coal production, particularly in the West The Clean Power Plan, passed on June 2, 2014, is aimed at lowering carbon emissions by 30% by 2030 from power plants, many of them coal-fired. While it only accounts for 37% of all energy in the U.S., coal is responsible for 75% of carbon emissions, making
The 12 country cartel decides to maintain production—as expected As many experts predicted, OPEC decided to maintain its production ceiling at 30 million barrels per day (MMBOPD) at its June 5 meeting held in Vienna Austria. Brent and West Texas Intermediate crude oil prices both fell 1% following the news, according to a note from Baird Equity Research. In OPEC’s
April production from OPEC countries nearly 31 MMBOPD The Organization of Petroleum Exporting Countries continued to increase production in April, going nearly 1 MMBOPD over its 30 MMBOPD production ceiling. Total OPEC production reached 30.93 MMBOPD in the month of April, according to estimates from Platts, 210 MBOPD more than in March, and the highest since November 2012. The single
Stats from the Texas Railroad Commission show increased test rates in the Eagle Ford Test rates for wells located in the Eagle Ford Shale have been increasing over the last four quarters, according to information from the Texas Railroad Commission (Texas RRC). A research note from KLR Group analyzed the information from the Texas RRC and found average test rates
Reports Quarterly Records for Upstream and Midstream Segments Magnum Hunter Resources (ticker: MHR), a Houston-based E&P with operations focused largely on the Appalachia region, reported new quarterly records for production and throughput volumes in a press release on April 15, 2015. The company says the production increase was “attributable primarily to the Company’s expanded 2014 drilling program in its core
A new report from the EIA shows increased productivity per rig Reports from Baker Hughes (ticker: BHI) last week showed the number of rigs actively drilling for oil and gas in the United States fell below 1,000 for the first time since September 2009. Even as the number of rigs drilling has dropped precipitously in the U.S. as oil prices
EIA: U.S. remains the largest hydrocarbon producer for the third straight year The United States remained the world’s top producer of petroleum and natural gas hydrocarbons in 2014, according to Energy Information Administration (EIA) estimates. U.S. petroleum production increased by 3 quadrillion Btu (1.6 MMBOPD) in 2014, while natural gas production increased by 5 quadrillion Btu (13.9 Bcf/d) over the
Numbers from the COGCC shows oil production in Colorado is up 27% year-over-year from 2013 According to the latest data from the Colorado Oil and Gas Conservation Commission (COGCC), oil production in Colorado is up 27% in 2014 from 2013. Total production in the state reached 82.8 MMBO in 2014, with 70.1 MMBO (about 85%) coming from Weld County, which
