U.S. oil production is expected to rise more than 2 million barrels per day by 2015. That’s from a new report written by Bentek that was released after the National Petroleum Council’s Production Report last week. The bulk of production will be added by the Bakken, Eagle Ford, and other plays in West Texas. IHS predicts that same oil growth could fuel the addition of 1.3 million jobs and add $97 billion in tax revenues.
I think it’s safe to say all three, production, jobs, and tax revenues, should be welcomed during this economic climate.
North America appears headed for an oil renaissance, with crude production expected to hit an all-time high by 2016 given the current pace of drilling in the U.S. and Canada, according to a study released by an energy research firm this week.
U.S. oil production in areas including West Texas’ Permian Basin, South Texas’ Eagle Ford shale and North Dakota’s Bakken shale will record a rise of a little more than 2 million barrels per day from 2010 to 2016, according to data compiled by Bentek Energy, a Colorado firm that tracks energy infrastructure and production projects.
Read the full news release at mysanantonio.com
Kenneth E. DuBose
Latest posts by Kenneth E. DuBose (see all)
- H2S Gas Found in Higher Concentrations – McMullen Co. Wells - Dec 29, 2014
- RRC Adopts New Pipeline Permit Rule - Dec 26, 2014
- SPE-GCS Shale Study Group to Be Formed in 2015 - Dec 24, 2014