Last year, Alaska produced only 421 Mb/d of crude oil, barely one-fifth the state’s peak output in 1988. But two new projects — one already producing and the other only weeks away from “first oil” — will add a combined 100 Mb/d and a third, even bigger one will contribute another 180 Mb/d by 2030.
U.S. E&Ps continue to ignore political pressures to “drill, baby, drill,” sticking rigidly to capital discipline and trimming their drilling-and-completion activity. But that hasn’t kept production from inching up as E&Ps continue to increase their productivity.
Three-quarters of the Bakken's top-tier well sites may have already been drilled and the remaining inventory may be less than stellar, but a new AI-based analysis suggests the quality of the rock held by the shale play’s top producers varies widely.
A new analysis suggests about 75% of the Bakken’s top-quartile locations have been drilled and only 6,100 well sites would generate a good return at the prices we’ve seen the past couple of years.
The Trump administration has been easing regulations, accelerating project approvals, and proclaiming its undying support for the oil and gas industry. But much of the oil patch is in the doldrums. Crude oil prices are stuck in the low $60s/bbl, upstream capex and oilfield activity are down, and some U.S. producers are struggling. In today’s RBN blog, we’ll discuss the contrast between what the industry had hoped 2025 would bring and how things stand now.
We’ve discussed the qualities of the Uinta Basin’s unusual waxy crude, the challenges inherent in moving it to market, and the use of machine-learning AI to optimize its extraction from two key geologic layers or “benches” deep below the rugged hills of northeastern Utah. Now, in today’s RBN blog, it’s finally time to reveal what all this tells us regarding the prospects for continued Uinta production growth; the need for new takeaway capacity, blending and refining infrastructure to handle it; and — very important — the estimated duration of economically recoverable waxy crude under various price scenarios.
There’s a lot to like about the Uinta Basin’s waxy crude, but ramping up its production and use in refinery feedstock slates will require multimillion-dollar investments in rail terminals, special rail cars, heated storage, refinery equipment and other midstream and downstream infrastructure. A natural concern for E&Ps, midstreamers, and refiners is whether the basin has sufficient long-term staying power to justify the upfront costs and commitments. As we discuss in today’s RBN blog, a machine-learning-based analysis can provide many of the answers by assessing the basin’s long-term outlook under various scenarios.
In just a few years, the Uinta Basin has morphed from a quirky, waxy-crude curiosity to a burgeoning shale play with production north of 170 Mb/d and initial production (IP) rates that compare favorably with the best wells in the Permian. Still, there are a host of logistical challenges associated with transporting waxy crude out of the basin and questions have remained about the Uinta’s potential for growth and its staying power. In today’s RBN blog, we begin an in-depth look at the basin — with an assist from our friends at Novi Labs, whose innovative use of AI and machine learning provides valuable insights.
In just a few days, President-elect Trump will return to office, determined to fulfill his many campaign promises, including his high-profile commitment to ease the regulatory burden on oil and gas producers so they can “drill, baby, drill.” Significantly ramping up production would likely bring down consumer prices for gasoline, diesel and other fuels — a noble goal — but it would also be at odds with the conservative, financially disciplined strategies that now guide many oil majors and oil-focused E&Ps. With the prospects for “drill, baby, drill” uncertain at best, and the correlations between oil prices, rig counts and production volumes less reliable than they used to be, how can we develop a production forecast? In today’s RBN blog, we explain what we do — oh, and we share our forecast with you, for free!
The Denver-Julesburg Basin isn’t the Permian — no argument there. But like its much bigger brother in West Texas and southeastern New Mexico, the DJ Basin has been a hotbed of M&A in both the upstream and midstream sectors. Among DJ producers, Chevron, Civitas Resources and Occidental Petroleum (Oxy) are now the top dogs, with big hopes for the future there. And, as we’ll discuss in today’s RBN blog, a handful of midstreamers have taken on leading roles in crude oil and gas gathering (and processing) in Weld County, CO, the heart of the basin.
