December 09, 2011

North Dakota Produced 488068 barrels of oil per day in October, 2011 for another record high

North Dakota produced 488068 barrels of oil per day in October, 2011 This is 100,000 barrels per day more than in June, 2011.

North Dakota Department of Mineral Resources Director Lynn Helms indicated that the boom in North Dakota oil is likely to lead to over 500,000 barrels per day by the end of 2011 and is heading to 900,000 barrels per day in 2013-2014.

California produces about 539,000 barrels of oil daily, compared with about 550,000 barrels in Alaska and about 1.2 million barrels daily in Texas. North Dakota is likely to move to become the second largest state for oil production in 2012.

Global oil (all liquids) supply edged up to a high of 89.3 million barrels per day in October.

The US is edging towards 6 million barrels of crude oil per day.

US crude oil production could go from 5.8 million bpd to 6.5-7 million barrels per day in 2012.

US Crude oil production for the week of Sept 30, 2011 was 5.8 million bpd. This has been an increase of 300,000 bpd from last year. Net oil imports were down to 8.66 mbd and total oil (fossil fuel liquids) used was 19.1 mbd. 15.1 mbd went to crude oil refineries.

4.1 mbd of other non-crude oil supply
2.2 mbd natural gas liquids
0.9 mbd renewable fuels
0.9 mbd ethanol
1.1 mbd refinery process gain

US crude oil production could go to 7-7.5 million barrels per day in 2013.

US crude oil production could optimistically increase by 1 million barrels per day through 2015 (a more conservative but realitistic projection is an increase of 500,000 barrels per day), which would put crude oil production in the range of Russia and Saudi Arabia. The United States could definitely be leading in liquid fuel production when the ethanol and natural gas liquids is added.

The US could have 8-10 million bpd of crude oil production in 2015 and 11-14 million bpd of crude + natural gas liquids + biofuel/ethanol.

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