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US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

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US crude oil production averaged 11.3 The production decline resulted from reduced drilling activity related to low oil prices in 2020. The production decline resulted from reduced drilling activity related to low oil prices in 2020. In January 2020, US crude oil production reached a peak of 12.8 million b/d. million b/d.

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Quantum Energy and Bilfinger Westcon partner to develop multiple refineries in the North Dakota-Montana Bakken formation

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Bilfinger Westcon is currently constructing a diesel refinery project in Dickinson, North Dakota expected to be completed around the end of this year. The design plan includes the capturing the CO 2 released form the facilities for use in Enhanced Oil Recovery (EOR) throughout the Bakken. —Andrew J. Kacic, Quantum CEO.

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EIA forecasts Bakken oil production will top 1M barrels per day next month; >10% of US oil production

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The latest monthly update of estimated crude oil production in the Bakken region of North Dakota and Montana shows total wellhead output topping 1 million barrels of oil per day (bbl/d) next month. The update appears in the most recent issue of the US Energy Information Administration’s Drilling Productivity Report (DPR).

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EIA: 5 states and the Gulf of Mexico produce more than 80% of US crude oil; shales drive the growth

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Five states (Texas, North Dakota, California, Alaska, and Oklahoma) and the Gulf of Mexico supplied more than 80%, or 6 million barrels per day, of the crude oil (including lease condensate) produced in the United States in 2013, according to the US Energy Information Administration (EIA). Click to enlarge.

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Commentary: Could falling oil prices spark a financial crisis?

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The oil and gas boom in the United States was made possible by the extensive credit afforded to drillers. As is the nature of the junk-bond market, lots of money flowed to companies with much riskier drilling prospects than, say, the oil majors. The situation will compound itself if oil prices stay low.

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Details on how Enbridge will expand capacity of Alberta Clipper oil sands crude pipeline without US review

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million barrels per day of crude oil and liquids. The Enbridge Mainline system is the largest conduit of oil into the United States. Enbridge transports 53% of US-bound Canadian production, a figure that accounts for approximately 15% of total US crude oil imports. Earlier post.). miles (2.4

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Transcanada restarts Keystone oil sands pipeline operations

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TransCanada Corporation said that its 590,000 barrel-per-day (bpd) capacity Keystone Pipeline system resumed transporting oil sands crude on Sunday, 5 June, after a shutdown 29 May following an above-ground spill at a pump station in Kansas involving less than 10 barrels of oil. Earlier post.) The tar sands are estimated (e.g.,

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