GLOBAL MARKETS


Live World Indices are powered by Investing.com

Saturday, 27 February 2016

Bad News - Texas Oil Production Peaking?







 Chart Patterns  Indicate Texas Oil Production Facing Peak

Texas Assciated Gas
The Texas RRC Oil and Gas Production Data is out. There appeared to be no decline in December production and may have even been a slight increase. 
The Texas RRC data is incomplete and only gives an indication as to whether Texas production increased or decreased. The data appears to droop because each month the the Texas Railroad Commission receives a little more data and the totals increase, little by little, month by month, until after many months the data is complete.
In our  charts we posted over the past six months of data in order to give some indication as to whether production is increasing or decreasing. The final data is through December and the EIA data is through November.
Texas C+C
Texas crude plus condensate declined a little in November but seemed to make up that decline in December. Total Texas C+C seems to be on a flat plateau, declining in Eagle Ford but making up that decline in the Permian and the rest of Texas.


Image result for eagle ford drilling


The EIA estimates the final Texas data through November. They have Texas peaking in March and down about a quarter of a million barrels per day since that point.
Dean C+C
Dr. Dean Fantazzini, Deputy Head of the  Chair of Econometrics and Mathematical Methods in Economics at the Moscow School of Economics, Moscow State University, has worked out an algorithm that predicts what the final production numbers will look like. He has C+C relatively flat the last few months and slightly above the EIA estimate.


Texas Crude Only

Texas crude only shows basically the same pattern as C+C.
Dean Oil

This is  Moscow's estimate of what the final Texas crude only production will look like.
Texas Condensate

Texas condensate seems to have a slightly steeper decline than does crude only and peaked in December rather than March when crude only peaked. we use the term “peaked” to mean “peaked so far” and we are  not  asserting that it is the final peak. Only time will tell whether it is the final peak or not.
Dean Condensate

  The Russian data agrees that condensate peaked in December.
Texas Total Gas
Texas total gas production, according to the EIA, peaked in June, so far, and now seems to be declining a bit faster than oil.
Dean Gas
 Russian numbers  shows Texas total gas production on a plateau with a slow decline. He has Texas gas production, in November, slightly above the EIA’s estimate.
Texas Gas Well Gas
Texas gas well gas actually peaked in early 2009 and has since been in a slow but steady decline.
Texas Assciated Gas
Texas gas production has been kept increasing by the increase of associated gas. The shale oil boom is largely responsible for the increase in Texas associated gas. 

  • Mahjoub Mohamed Salih, WNN News


Twitter

Twitter
Follow Here

Search This Blog