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U.S. On Its Way To Becoming World’s Largest Oil Producer

Becemina NUMBER ONE The road to becoming the world's largest oil producer The United States is currently experiencing an oil production boom. The year 2012 marks the biggest single-year gain since 1951, and the fourth straight year that has seen crude oil increase. 83% of U.S. energy needs were met in the first six months of 2012 * OIL PRODUCTION GROWTH U.S. production of crude oil and other liquid hydrocarbons, including biofuels, is forecast to rise significantly in the near future. 2013- U.S. SAUDI ARABIA AVERAGES AVERAGES 11.4Mme 11.6Mme BBLS BBLS 2020- UNITED STATES ESTIMATED TO HIT UP TO 15M BARRELS PER DAY Production from U.S. shale formations is expected to go from: 1.6Ma 14.2M BBLS/ TO BBLS/ DAY 2012 + 2020 * REGIONS OF PRODUCTION BAKKEN REGION A U.S. Geological Survey estimated that the region holds a mean undiscovered volume of: 3.65B bbls of oil 1.85T cubic feet of natural gas 148M Most recent estimates bbls of natural place total reserves at 18B bbls gas liquids 2010 By the end of 2010, oil production reached 458,000 bbls/day 200+ WELLS DRILLED PER MONTH 99% 98% horizontal success TOP PRODUCERS NORTH DAKOTA TEXAS All-time high 6,471 producing wells 1.4M bbls/day in 2011 All-time high 535K bbls/day in December 2012 Up 22% from 2010, and the highest since 1997 -OKLAHOMA CALIFORNIA 204,000 bbls/day in 2011 Up 7% from 2010, 535,000 bbls/day in 2011 and the highest since 1998 USCOIL PROPERTIES SOURCES usatoday.com/story/money/business/2012/10/23/us-top-oil-producer/1652937/ investopedia.com/stock-analysis/2011/how-much-oil-is-in-the-bakken-clr-bexp-oas-wll-kog-sm-oxy-hes-geoi-mro0125.aspx#ixzz2De4AGwUi keystoneventure.com/1_6_Bakken-Oil.html minotdailynews.com/page/content.detail/id/562942/North-Dakota-ties-California-in-oil-production.html instituteforenergyresearch.org/2012/03/29/crude-oil-production-from-shale-formations-jumps-in-2011/ eia.gov/todayinenergy/detail.cfm?id%3D5390

U.S. On Its Way To Becoming World’s Largest Oil Producer

shared by usoilproperties on May 03
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Independence has been the call-word for U.S. energy politics since the oil shocks of the 1970s. The sudden jump in oil prices as exporting countries started to flex their muscles and the chaos after t...

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