Tight Oil Production Will Fall 600,000 Barrels Per Day By June

Posted on March 4, 2015


My dear friend Art Berman has made an interesting analysis of future oil production in the USA.

This is the beginning of his blog:

U.S. tight oil production may fall 600,000 barrels per day by June 2015 based on reasonable projections of current rig counts.

I compared the decrease in rig counts that began in late 2014 to the rig count decrease in 2008 and 2009 following the Financial Crisis. I projected current total rig counts according to three scenarios out to June 5, 2015 shown in the chart below. I then applied those decline rates to rig counts and production in the 4 major tight oil plays: the Bakken, D-J Niobrara, Eagle Ford and Permian basin.

Read the rest!

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