Benposium

The Bentek Eagle Ford crude oil production outlook back in 2011 pointed to a four fold increase in production to 900 Mb/d over the five years to 2016. That number was actually achieved in under two years and today’s forecast calls for 1.5 MMb/d production by 2016. Those growth rates are remarkable enough but the super light nature of the crude being produced means much of it is better classified as condensate. The challenge for producers and refiners in Texas going forward is to find adequate markets for increasing volumes of condensate. Today we continue a series reflecting on the speed of change that shale production is dictating.

Two years ago in June 2011 Bentek forecast that crude production in the Williston Basin would grow to 900 Mb/d by 2016. Today’s production in North Dakota and Montana is already at that level. What we are learning about US shale production is that it has been growing at twice the rate of every forecast out there.   Today we begin a new series looking at what we are learning about the accelerating pace of North American shale production.