Future is US Oil and Gas and Using Oil for Plastics

Enterprise Products Partners is a midstream oil and gas company with a $64 billion market valuation. They have a forecast of US oil and gas by region from now to 2025.

By 2025, Texas oil production will double and US and gas production will increase by around 50%.

They forecast that Texas will surpass 10 million barrels per day of crude oil production by 2025 from the Permian and Eagle Ford Basins. This is up from 5 million barrels per day today.

The US will increase from 12 million barrels per day of crude oil and condensate to 17 million barrels per day in 2025.

The US will increase natural gas liquids from 5.5 million barrels per day today to 8.5 million barrels per day to 2025.

The US will increase dry natural gas from 88 billion cubic feet per day to 114 billion cubic feet per day.

The US will export a lot of oil and NGL to Asia.

Even with more electric cars there will is projected to solid growth using oil for plastics.

SOURCES : Enterprise Products Partners
Written By Brian Wang, Nextbigfuture.com

Subscribe on Google News