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EIA: US Permian Basin oil production and resource assessments continue to increase

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Between January 2016 and March 2017, oil production in the Permian Basin increased in all but three months, even as domestic crude oil prices fell. As production in other regions fell throughout most of 2015 and 2016, the Permian provided a growing share of US crude oil production. million b/d) in that month.

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Kinder Morgan to invest ~$1B on new CO2 system for EOR

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The new Lobos Pipeline will have an initial capacity of 300 million standard cubic feet per day and will support current and future enhanced oil recovery (EOR) projects owned by Kinder Morgan and other operators in the Permian Basin of West Texas and eastern New Mexico. Johns field.

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GlobalData: best performing wells in Permian break-even at as low as US$22 per barrel

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Well lateral lengths in the Permian have increased in average by more than 1,500 feet (ft) since 2016 to approximately 7,500 ft by the end of 2017, says GlobalData, a leading data and analytics company. On 25 June, the price of a 42-gallon barrel of West Texas Intermediate Crude (WTI) was $68.08.

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Tesla’s war against direct sales wages on with big win in Virginia

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The Tyson’s Corner showroom, which is one of the Northern locations, was granted a license in 2016. In 2016, Tesla opened the Richmond store under the pretense that the automaker had the same prices in-store as it did online. Holcomb also granted Tesla this license.

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DOE launches wave energy competition

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The judging panel will include technical experts from: Sandia National Laboratories, Albuquerque, New Mexico; National Renewable Energy Laboratory, Golden, Colorado; Naval Surface Warfare Center—Carderock Division, Bethesda, Maryland; and Ricardo, Inc., The Department expects to select finalists and alternates in early 2016.

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EIA forecasts US crude oil production rate to break record high in 2018 and again in 2019; 10.3 and 10.8 million b/d

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Increased production from the Permian region in Texas and New Mexico accounts for 0.8 million b/d of growth to come from the Federal Gulf of Mexico, as seven new projects are expected to come online by the end of 2019. US crude oil production averaged an estimated 9.3 million b/d in December. million b/d.

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USGS estimates 20B barrels of oil in Texas’ Wolfcamp Shale; largest USGS estimate of continuous oil ever in US

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The Permian Basin province includes a series of basins and other geologic formations in West Texas and southern New Mexico. 2016) “Assessment of undiscovered continuous oil resources in the Wolfcamp shale of the Midland Basin, Permian Basin Province, Texas,” U.S. Geological Survey Fact Sheet 2016–3092, 4 p., Marra, K.R.,

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