Last updateThu, 05 Dec 2019 8pm

U.S. Shale Operators Can Save $24B Through Well Optimization

New findings from Deloitte suggests that if Eagle Ford and Permian Basin shale operators were to fully optimize their well designs, they could generate capital efficiency gains of 19% and 23%, respectively. This could represent a $24 billion capex saving opportunity for U.S. shale operators to strengthen their balance sheets and boost returns.

Meta-analysis of 80,000 wells in the Permian and Eagle Ford reveals up to 67% of completions were either over or under-engineered.

U.S. Now Exports Crude Oil to More Places Than It Imports

As U.S. crude oil export volumes have increased to an average of 2.8 million barrels per day (b/d) in the first seven months of 2019, the number of destinations (which includes countries, territories, autonomous regions, and other administrative regions) that receive U.S. exports has also increased. Earlier this year, the number of U.S. crude oil export destinations surpassed the number of sources of U.S. crude oil imports that the U.S. Energy Information Administration tracks.

Polyurethane Production Up in North America from 2016-2018

The Center for the Polyurethanes Industry (CPI) has released the results of a two-year survey on the polyurethanes industry in the U.S., Canada and Mexico. The 2018 End-Use Market Survey on the Polyurethanes Industry in the U.S., Canada and Mexico shows that polyurethane production rose to over 9 billion pounds (a 3.9% increase). U.S. polyurethane production rose in all major product segments between 2016 and 2018, with the most significant growth in the Thermoplastic Polyurethane (TPU) market.

Oil and Gas Activity Boosts Government Finances

The production of energy and natural resources, particularly oil and gas operations, on BLM-managed lands led to a dramatic increase in economic activity in 2018. In fiscal year 2018, the Bureau of Land Management (BLM) offered nearly 13 million acres for leasing. Federal onshore oil production increased to 214.1 million barrels of oil during fiscal year 2018, compared to 174 million barrels in fiscal year 2017. New renewable energy projects were also initiated.

U.S. Energy Production Reaches All-Time High

U.S. crude oil production reached a new all-time high of 12.4 million barrels per day (b/d) – and U.S. natural gas liquids production sustained a record 4.8 million b/d – in September, according to data released from the American Petroleum Institute’s September 2019 Monthly Statistical Report. This milestone came as global markets have grappled with geopolitical and trade tensions that underscored the ability of U.S. production to cushion American consumers by helping to keep prices low and reduce price volatility.


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