Texas oil production has increased about 770,000 bbl/d since January 2009, and in July 2012 averaged 1.925 million bbl/d. Texas has seen the largest volumetric increase of any state. The Permian Basin, which was already producing significant quantities of conventional oil, has experienced increases in oil production from both conventional and shale plays. EIA forecasts Western Gulf Basin production to rise to almost 930,000 bbl/d and Permian Basin production to reach 1.55 million bbl/d by January 2014.
EIA is thus forecasting Texas to have almost 2.5 million bbl/d by January, 2014.
The Bakken tight oil formation has accounted for nearly all of the new production in North Dakota. EIA forecasts total Williston Basin production, including North Dakota and Montana, will approach 1.1 million bbl/d by January 2014.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.