ExxonMobil revised its Permian Basin (Texas and New Mexico) growth plans to produce more than 1 million oil-equivalent barrels per day by as early as 2024 – an increase of nearly 80 percent and a significant acceleration of value. Exxon’s resource base in the Permian is approximately 10 billion oil-equivalent barrels and is likely to …
The Texas Independent Producers & Royalty Owners Association (TIPRO) reported oil production in Texas totaled a record 1.54 billion barrels (bbl) in 2018 which surpassed a previous record of 1.28 billion bbl set in 1973. If Texas were a country it would be the fourth largest oil producer after the USA, Saudi Arabia and Russia. …
SpaceX is initially building a launch pad for the Starhopper at Boca Chica, Texas. However, SpaceX has to build a lot more for the orbital Super Heavy Starship launches. There are older plans and artists renderings of the Boca Chica SpaceX launch facility. Currently, Boca Chica looks like this. Brian WangBrian Wang is a Futurist …
SpaceX continues to build the Starship hopper test rocket. They are removing placeholder engines and opened up the rocket to add fuel tanks and the real raptor engines. Here are tweets about progress on the Texas launch site. It still looks pretty good for a February first hop launch test. NEW: Weekend droneshot anticipated South …
The US Geological Survey has performed an updated survey of the primary oil basin in Texas and doubled their estimate of technically recoverable oil and gas from 2016. Fracking Technology Keeps Improving They did not change how much oil they thought was in the formation. The oil in has been known for decades. We knew …
Peak Oil was a very popular idea from about 2000 to 2013. The idea was that world oil production or a nations oil production would reach a maximum level and then go into permanent decline. US crude oil production set a new record back in February, 2018 to surpass the previous oil production peak set …
Texas Permian oil producers will add three pipelines and 2 million barrels of oil a day. A few months ago it was believed that U.S. oil production was going to plateau from mid-2018 to 2020. However, August saw the largest annual increase in U.S. oil production in 98 years, according to government data. The American …
Texas oil output (Permian and Eagle Ford) is expected to 5.6 million barrels per day in 2019, according to HSBC. Texas will be more nearly half of America’s total crude oil production. EIA forecasts US oil production to average 11.8 million barrels per day in 2019. Texas oil production would make it the number three …
California had a massive drop in projected population since a reforecast in 2014 and the forecasted future population in Texas has been increasing. The newest combined estimates are that Texas could have more people than California by 2045. If Texas continues to grow at the rate they grew in 2000-2010, then Texas would pass California’s …
Permian basin oil production is forecast to reach 5.4 million b/d by 2023—more than current production from any single Organization of Petroleum Exporting Countries member other than Saudi Arabia, IHS Markit said in a new report. The Permian Basin is a sedimentary basin largely contained in the western part of the U.S. state of Texas …
The Bureau of Economic Analysis indicates that California had GDP growth of 3.4% and Texas had GDP growth of 5.2%. At the end of 2017, California had a GDP of $2.80 trillion and Texas had a GDP of 1.75 trillion. The US has a GDP of $19.6 trillion at the end of 2017. In May, …