- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Oil Production in the Gulf set to reach record highs by end of the year
Posted on 8/21/18 at 8:00 am
Posted on 8/21/18 at 8:00 am
LINK /
I don't know about the "just begun" part
quote:
While Texas alone is on track to becoming one of the world’s three leading oil producers, records are being shattered in other sectors of U.S. oil production. The Gulf of Mexico is set to soar past a previous oil production record set in 2009. Energy consultancy Wood Mackenzie has made bold predictions for 2018 production totals if everything stays on course.
The Gulf could produce as much as 1.93 million barrels of oil and gas by year’s end. This would be nearly a 10% increase from the previous high. Yet, signs suggest that productivity gears are just starting to turn.
quote:
A rapid boom in Gulf oil production comes even at a time when, “operators in the Gulf of Mexico are expected to be more conservative, focusing on tie-back projects that are inherently lower risk but with lesser upside,” Upstream reports. Massive leaps in production are coming despite that fact that operators are acting conservatively with the projects they pursue.
quote:
Future focused minds are already thinking about the next phase of production in a year when production has never been better. If trends hold steady, the limits of U.S. oil will continue to be tested. The rise of the American oil industry has just begun.
I don't know about the "just begun" part
8
Posted on 8/21/18 at 8:19 am to Powerman
hope that means good things for the houma region
Posted on 8/21/18 at 8:29 am to 90proofprofessional
We need a true conservative governor soon...imagine what JBE is going to do with all that influx of cash
Posted on 8/21/18 at 8:32 am to saints5021
JBE's wet dream is a class action against OG so he can farm is out to his cronies, Tobbacco payoff 2.0
Posted on 8/21/18 at 8:36 am to 90proofprofessional
quote:
hope that means good things for the houma region
Me too
Still have a lot of family and friends there
Posted on 8/21/18 at 8:38 am to 90proofprofessional
quote:
hope that means good things for the houma region
It sounds like good news to darn near everybody.
Posted on 8/21/18 at 8:40 am to Tesla
Lafayette could use the good news. Been slow for 5 years
Posted on 8/21/18 at 8:42 am to Powerman
Looks like my plan to invest all I had into truck nut production and distribution is going to pay off handsomely. 
Posted on 8/21/18 at 8:47 am to saints5021
quote:
We need a true conservative governor soon...
How about just "not a corrupt" governor soon....but that's like wishing you'd win the lottery.
Posted on 8/21/18 at 9:08 am to Powerman
Doing my part baws. I’ve brought on ~35,000 BOPD in the last 4 months.
Posted on 8/21/18 at 9:13 am to Powerman
in other news, millions of dead polar bears washing up on shore as we speak
Posted on 8/21/18 at 9:28 am to saints5021
quote:
We need a true conservative governor soon...imagine what JBE is going to do with all that influx of cash
Good luck with that
Posted on 8/21/18 at 9:39 am to Powerman
quote:That's "per day," right?
The Gulf could produce as much as 1.93 million barrels of oil and gas by year’s end.
If so, the writer left off an important bit of descriptive information in that sentence.
Posted on 8/21/18 at 9:54 am to bfniii
quote:
in other news, millions of dead polar bears washing up on shore as we speak
"Our prayers have been answered!"
Penguin and Seal Local 243
This post was edited on 8/21/18 at 9:57 am
Posted on 8/21/18 at 9:56 am to Powerman
quote:
Oil Production in the Gulf set to reach record highs by end of the year
Now we need a focused effort to build more refineries.
Posted on 8/21/18 at 10:12 am to LSURussian
quote:quote:
The Gulf could produce as much as 1.93 million barrels of oil and gas by year’s end.
That's "per day," right?
If so, the writer left off an important bit of descriptive information in that sentence.
Plus you really can't talk about oil and gas in terms of volume without the proper units. BOPD (barrels of product per day) for oil and MMSCFD (millions of standard cubic feet per day) for gas are the customary units.
Geek time: (Note, when the gas gets sold to customers its units of measurement are MMBTU. The reason for the difference is the following: from the well to the distribution company it's an engineering transportation function. It's easier to size pipe and equipment based on volumetric flow rates. Thus MMSCFD. Whereas the consumer is primarily concerned with energy density, thus gas is measured in MMBTU to the customer. Some gas streams have higher energy densities than others. Natural gas stream with higher concentrations of ethane and propane will give the gas stream a higher BTU content. In simple terms, you can boil water faster on your stove with a higher BTU gas stream than the lower BTU gas streams.)
Posted on 8/21/18 at 10:41 am to 90proofprofessional
quote:
hope that means good things for the houma region
I'm not in O&G, so probably am wrong here, but the story suggests to me the increase in production will largely come from reworking (redirecting/whatever) current facilities. Sounds like there would be a mild stimulus, but nothing major enough to pull SE LA out of the recession it's in.
Would like to hear from people who actually know what they're talking about though
This post was edited on 8/21/18 at 10:43 am
Posted on 8/21/18 at 10:46 am to LSURussian
quote:
That's "per day," right?
If so, the writer left off an important bit of descriptive information in that sentence.
Absolutely
I noticed that as well
Some of the facilities I've worked on do north of 100K barrels per day so would hit that target by themselves before long
Posted on 8/21/18 at 11:07 am to Powerman
Posted on 8/21/18 at 11:40 am to GumboPot
quote:
Plus you really can't talk about oil and gas in terms of volume without the proper units. BOPD (barrels of product per day) for oil and MMSCFD (millions of standard cubic feet per day) for gas are the customary units.
It should have been expressed as BOE/D (Barrel of Oil Equivalent per Day. The conversion is 6 mcf = 1 BOPD based on energy content. Based on $ it's currently about 20/1)...since he's trying to express oil and gas in bbls.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News