{"id":48953,"date":"2019-10-11T16:39:15","date_gmt":"2019-10-11T21:39:15","guid":{"rendered":"https:\/\/olduvai.ca\/?p=48953"},"modified":"2019-10-11T16:39:18","modified_gmt":"2019-10-11T21:39:18","slug":"more-than-50-of-the-mighty-permians-2018-oil-production-has-vaporized-2","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=48953","title":{"rendered":"More Than 50% Of The Mighty Permian\u2019s 2018 Oil Production Has Vaporized"},"content":{"rendered":"\n

More Than 50% Of The Mighty Permian\u2019s 2018 Oil Production Has Vaporized<\/a><\/h3>\n\n\n\n

As dark clouds gather on the financial horizon, big trouble is brewing in the U.S. Shale Oil Industry.  While most Americans are focused on the Mainstream media\u2019s coverage of the ongoing Washington D.C. circus, the real threat to the domestic economy lies in the country\u2019s oil heartland.  And, if we look at what is taking place in the United States\u2019 largest shale oil region, the signs are troubling.<\/p>\n\n\n\n

The Permian Oil Basin in Texas and New Mexico accounts for nearly half (46%) of the total U.S. shale oil production.   According to the data from Shaleprofile.com<\/strong><\/a>, Permian\u2019s oil production peaked in May at 3.43 million barrels per day.  Due to the massive decline rate, production in the Permian has stalled this year.<\/p>\n\n\n\n

The chart below shows the Permian oil production declining even though more wells continue to be brought online.  Unfortunately, there aren\u2019t enough wells being added to offset the tremendous decline rate.  You will notice how quickly the oil production that was added in 2018 (Light Blue color) has declined in just half a year:<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

To give you a better idea of the huge decline rate in Permian oil production, let\u2019s only focus on 2018 and 2019 in the following charts.  But, before doing so, I wanted to let everyone know that this information would not be possible without the data from Shaleprofile.com.  I highly recommend that you check out Shaleprofile.com<\/strong><\/a> and consider subscribing to the service if you want to be able to access more details in the shale industry.  It\u2019s worth its weight in gold.<\/p>\n\n\n\n

Let\u2019s look at the Permian oil production just for 2018.\u00a0 Permian oil production brought on in 2018 peaked in December at 2,136,000 barrels oil per day (bopd) or 2,136K bopd, and declined to 1,056K bopd by July 2019.\u00a0That is a STUNNING 50.5% decline in just seven months<\/strong>:<\/p>\n\n\n\n

 \u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"

More Than 50% Of The Mighty Permian\u2019s 2018 Oil Production Has Vaporized As dark clouds gather on the financial horizon, big trouble is brewing in the U.S. Shale Oil Industry.  While most Americans are focused on the Mainstream media\u2019s coverage of the ongoing Washington D.C. circus, the real threat to the domestic economy lies in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[595,12073,827,7893],"class_list":["post-48953","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-oil-production","tag-srsrocco-report","tag-united-states","tag-us-shale-industry"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48953","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48953"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48953\/revisions"}],"predecessor-version":[{"id":48954,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/48953\/revisions\/48954"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}