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California s move to stop hydraulic fracturing permits by 2024 will likely do little to speed up the current decline in output, but any crackdown on production would boost the state s dependence on imported crude.
California was once the third-largest oil producer in the US behind Texas and Alaska, according to US Energy Information Administration data. In the early 1980s, crude output in the Golden State reached 1 million b/d, behind Texas 2.5 million b/d and Alaska s 1.7 million b/d.
But as of January 2021, California ranks seventh among oil-producing states at 364,000 b/d, trailing Texas (4.66 million b/d), North Dakota (1.1 million b/d), New Mexico (1.09 million b/d), Alaska (464,000 b/d), Oklahoma (426,000 b/d), and Colorado (373,000 b/d).
US oil, gas rig count rises 6 to 519 as Permian, Eagle Ford lead growth: Enverus
The US oil and gas rig count rose six to 519 in the week ended March 31, rig data provider Enverus said, as totals in the Permian Basin and Eagle Ford Shale continued to climb.
The Permian, sited in West Texas/southeast New Mexico, and Eagle Ford, in South Texas, each picked up four rigs week on week for respective totals of 236 and 41, marking their highest levels in nearly a year.
Since the start of 2021, the Permian has added 60 rigs and the Eagle Ford has gained 10.
The increase in nationwide rig counts was attributed to the oil side, which grew by six to 393. Gas rigs were static at 126.
Here are some selected news articles from the week ended 06 March 2021. Part 2 is available here.
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Fuel supplies drop most on record as US oil refining collapses, leading to largest ever jump in oil supplies
Refinery utilization at an all time low, 10% lower than it s ever been; oil refined is least on record; record jump in oil inventories, record drop in gasoline inventories; distillates production at a 26 year low, distillates inventories drop most in 18 years; largest jump in oil imports in 39 weeks.
The US oil and gas rig count leaped 30 in the week ending March 3 to 491, rig data provider Enverus said, reaching the highest total since late-April 2020, as WTI oil prices climbed near the mid-$60s/b amid buoyant outlooks at major energy conferences. Oil-directed rigs accounted for the vast majority of the week’s gain, .