Podcast Error
Posted: Sun Nov 05, 2017 1:32 pm
I watched the podcast this morning and I noticed that when I was on the 7th slide I said I thought U.S. oil production would be around 9.2 million barrels per day at year-end. I meant to say "around 9.5 million barrels per day" by year-end.
Until the Permian and SCOOP/STACK reach peak production, which may take 5-7 years, U.S. oil production should continue to rise. However, it will not rise as fast as many analysts projected it would at the beginning of this year.
Production will rise into year-end because upstream companies are focused on completing a lot of DUC wells, so the wells will be in their year-end reserve report.
Until the Permian and SCOOP/STACK reach peak production, which may take 5-7 years, U.S. oil production should continue to rise. However, it will not rise as fast as many analysts projected it would at the beginning of this year.
Production will rise into year-end because upstream companies are focused on completing a lot of DUC wells, so the wells will be in their year-end reserve report.