U.S. gears up for higher shale output

Reuters Videos
2 年前

STORY: Source: East Daley Capital

Production in the Permian basin of West Texas and New Mexico is climbing toward 5.7 million barrels per day

Meanwhile energy researchers estimate 6.6 million bpd could be available

Pipeline construction to Gulf Coast export hubs was booming in 2020 before oil prices collapsed

Now demand is back with U.S. crude currently trading around $100 a barrel

Source: East Daley Capital

Pipeline usage from the Permian to the Gulf Coast is already set to rise from 70% to 80% this year

That's led some operators to rethink plans to convert their oil pipelines to move natural gas

Source: Baker Hughes

Oil rig counts in the Permian, an indicator of future production, have also climbed 14% this year

More energy firms are raising capital spending to add more rigs and boost production