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Texas Oil Production May Hit Record by 2020, Regulator Says

Bloomberg -- Texas is poised to more than double daily oil production by 2020, surpassing a 1972 record with surging output from the Eagle Ford shale and Permian Basin, the state’s petroleum regulator said.
Oil production may rise to as much as 1.75 million barrels a day in 2013 from about 1.5 million barrels a day last year, Barry Smitherman, chairman of the Railroad Commission of Texas, said in an interview at the IHS CERAWeek conference in Houston today. The commission oversees oil and gas drilling and production in the state.
By 2020, Texas’ crude output may exceed the 3.45 million barrels a day seen in 1972 if prices stay high enough to make drilling economic, he said.
“The Eagle Ford really continues to ramp up, especially the liquids and crude portion,” Smitherman said.
The Eagle Ford, which...


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Submitted Mar 07, 2013 By: 1studman
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sydb7
Champion Author Atlanta

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Message Posted: Mar 9, 2013 6:59:51 AM

This will be no help at the pump!
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rjr54
Champion Author Winnipeg

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Message Posted: Mar 8, 2013 11:26:38 PM

"By 2020, Texas’ crude output may exceed the 3.45 million barrels a day"
The USA consumption is 20 million so it will reduce imports slightly. But will not likely change prices much.
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rrs517
Champion Author Colorado

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Message Posted: Mar 8, 2013 6:57:53 AM

Old, very old news.
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tomok
Champion Author Portland

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Message Posted: Mar 8, 2013 1:26:12 AM

Texas Oil Production May Hit Record by 2020! Texas may hit an oil production record but will that fuel produced from oil stay in the US? NOT!
Will fuel prices at the pump go down? NOT!
Big Oil and Big Gas sells fuel and natural gas on the world market for higher prices.
The US ‘oil and natural gas resources’ belong to the citizens of this country and are to be used by those same citizens! The price at the pump needs to go down to $2/gallon - *$3, *$3.50/gallon or *$4.00 is Not the new low!
More Refineries are Not the answer, Stop exporting fuel is!
Take care of the domestic fuel market first before exporting and selling our fuel or oil!
Drive vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money.
The price of fuel at the pump is too high!
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jethro5000
Champion Author Kentucky

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Message Posted: Mar 8, 2013 12:35:44 AM

Yesterday's news...
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bcok
Champion Author Los Angeles

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Message Posted: Mar 8, 2013 12:18:53 AM

ok
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KrsnaDragon
Champion Author Montreal

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Message Posted: Mar 7, 2013 11:50:24 PM

Hmm...
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MAC48
Champion Author Dallas

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Message Posted: Mar 7, 2013 11:47:55 PM

These are definitely exciting times in the Texas oil patches. There is another shale formation primarily in Scurry County, Texas that is estimated to be larger than the Eagle Ford in terms of recoverable crude oil, natural gas and natural gas liquids.
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rap12MA
Champion Author Boston

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Message Posted: Mar 7, 2013 11:44:02 PM

Not knowing what supply and demand means anymore in this country, it may be a blessing or it may be a curse.
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Zonk
Champion Author Michigan

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Message Posted: Mar 7, 2013 11:43:49 PM

Sounds like things are going in the correct direction.
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defiancegasman
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Message Posted: Mar 7, 2013 11:38:47 PM

OLD
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pa79th
Champion Author Pennsylvania

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Message Posted: Mar 7, 2013 11:32:13 PM

That's sure to drive the prices up! Haven't seen anything yet that drives them down.
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CDMAuto
Champion Author Connecticut

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Message Posted: Mar 7, 2013 11:27:31 PM

$4.00 going for $5,00
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crreed1
Champion Author West Virginia

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Message Posted: Mar 7, 2013 11:24:43 PM

sounds good
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lesndave
Champion Author Texas

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Message Posted: Mar 7, 2013 11:22:48 PM

Yeah!!!
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JasTheAce
Champion Author Raleigh

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Message Posted: Mar 7, 2013 11:22:06 PM

great
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jkpsr
Champion Author New Jersey

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Message Posted: Mar 7, 2013 11:20:43 PM

More good news.
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tedjm1
Champion Author New York

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Message Posted: Mar 7, 2013 11:20:27 PM

Okay!
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bston
Champion Author Oklahoma City

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Message Posted: Mar 7, 2013 11:17:47 PM

Moving in the right direction for U.S.
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Glock26
Champion Author Dayton

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Message Posted: Mar 7, 2013 11:17:14 PM

And the prices will be thru the roof by then!!!
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BALRSTATUS
Champion Author Grand Rapids

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Message Posted: Mar 7, 2013 11:15:23 PM

nice
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10k
Champion Author North Carolina

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Message Posted: Mar 7, 2013 11:14:41 PM

the source of this story is enough to make ya wanna go "hmmmmmm.."..
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TheSicilian
Champion Author Jacksonville

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Message Posted: Mar 7, 2013 11:12:27 PM

Lets be independent
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mcbrownie220
Sophomore Author Toledo

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Message Posted: Mar 7, 2013 11:11:40 PM

ok
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pbalmeo
Champion Author Los Angeles

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Message Posted: Mar 7, 2013 11:10:45 PM

Ok..
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Blue_Cruzer
Champion Author Lexington

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Message Posted: Mar 7, 2013 11:10:07 PM

Time will tell.
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boatfloyd
Champion Author Jacksonville

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Message Posted: Mar 7, 2013 11:09:23 PM

The Oil State.
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Tigercat88
Champion Author North Carolina

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Message Posted: Mar 7, 2013 11:09:01 PM

Drill Baby Drill. Build more refineries.
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regout
Champion Author Quebec

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Message Posted: Mar 7, 2013 11:08:31 PM

Will it reduce the price at the pump.
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ClassicWheeler
Champion Author Montgomery

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Message Posted: Mar 7, 2013 11:08:26 PM

What a record. I've never heard of anything like that. A record on oil production that will be made in 7 years? Wow! I think we should ask Bloomberg who will win the Super Bowl in the next 7 years and just cancel the games. They know it all!
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silverfox63
Champion Author Michigan

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Message Posted: Mar 7, 2013 11:08:03 PM

Will never see cheap gas again.
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unicornpmb
Champion Author Buffalo

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Message Posted: Mar 7, 2013 11:07:25 PM

Can't wait for cheaper gas.
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PrinceLH
Champion Author Ontario

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Message Posted: Mar 7, 2013 11:06:11 PM

It's the bastards that own the refineries that are controlling the flow of crude. Time to make Oil companies divest all interests in refineries.
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Chadgas
Champion Author Missouri

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Message Posted: Mar 7, 2013 11:05:49 PM

Then we can get some of that cheap $10 a gal gas.
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sawdust1825
Champion Author Illinois

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Message Posted: Mar 7, 2013 11:05:19 PM

And gas prices will rise right along with crude production.
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1fulltank
Champion Author Buffalo

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Message Posted: Mar 7, 2013 11:05:14 PM

...or sooner.
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Tsunamiron
Champion Author Jacksonville

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Message Posted: Mar 7, 2013 11:03:39 PM

... and gas prices will be over $6 per gallon by then.
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jrschl
Champion Author Louisville

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Message Posted: Mar 7, 2013 11:02:33 PM

Exports of oil will be even higher.
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roadrunnin
Champion Author Richmond

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Message Posted: Mar 7, 2013 10:59:39 PM

would be great if we would keep some of it
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69Bonne
Champion Author Gary

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Message Posted: Mar 7, 2013 10:57:24 PM

Well, good. Maybe soon we will be oil dependent from our own crude. But will it lower prices? Not if we keep export gasoline and other oil products.....
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prassu2012
Champion Author Illinois

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Message Posted: Mar 7, 2013 10:57:13 PM

good for texas
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grt197
Champion Author Illinois

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Message Posted: Mar 7, 2013 10:53:34 PM

good but but very high prices
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SparkieMi
Champion Author Kalamazoo

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Message Posted: Mar 7, 2013 10:52:40 PM

Great!!!! Now lower pump prices!!!!
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Vette1967
Champion Author Albany

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Message Posted: Mar 7, 2013 10:49:14 PM

It would mean more if we continue to use a little less too.
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skybiker
Champion Author South Carolina

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Message Posted: Mar 7, 2013 10:48:29 PM

Good! Stick it to the OPEC...
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yonasb
Champion Author Houston

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Message Posted: Mar 7, 2013 10:47:25 PM

love texas
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wayoung56
Champion Author Alabama

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Message Posted: Mar 7, 2013 10:45:31 PM

Hmmm...
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ssperkin
Champion Author Durham

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Message Posted: Mar 7, 2013 10:45:04 PM

Clearly hurting ;)
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OGW
Champion Author London

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Message Posted: Mar 7, 2013 10:44:59 PM

Oil, oil everywhere!
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camel1
Champion Author Minnesota

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Message Posted: Mar 7, 2013 10:44:45 PM

why so long
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