#Guyana is the new Jewel in @HessCorporation’ Crown #Oil #OOTT

Hess Corporation Investor Day Highlights: Guyana (Select Slides)

December 12, 2018From ENERGY ANALYTICS INSTITUTE (EAI)

#Venezuela #Oil Production up 31k BOPD to 1.464 MM BOPD in November, #PDVSA #OOTT

Summary:

Crude Oil Production in Venezuela increased to 1464 BBL/D/1K in November from 1433 BBL/D/1K in October of 2018. Crude Oil Production in Venezuela averaged 2400.67 BBL/D/1K from 1973 until 2018, reaching an all time high of 3453 BBL/D/1K in December of 1997 and a record low of 594 BBL/D/1K in January of 2003. 

Forecast:

Crude Oil Production in Venezuela is expected to be 1370.00 BBL/D/1K by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Crude Oil Production in Venezuela to stand at 1180.00 in 12 months time. In the long-term, the Venezuela Crude Oil Production is projected to trend around 1500.00 BBL/D/1K in 2020, according to our econometric models.

https://tradingeconomics.com/venezuela/crude-oil-production?utm_source=alerts&utm_medium=email&utm_campaign=alerts_more_button&utm_content=%2Fvenezuela%2Fcrude-oil-production

#USGS Announces Largest Continuous #Oil Assessment in #Texas & #NewMexico

This is the first assessment of continuous resources in the Wolfcamp shale and Bone Spring Formation in the Delaware Basin portion of the Permian. 

The Wolfcamp shale in the Midland Basin portion of the Permian Basin province was assessed separately in 2016, and at that time it was the largest assessment of continuous oil conducted by the USGS. The Delaware Basin assessment of the Wolfcamp Shale and Bone Spring Formation is more than two times larger than that of the Midland Basin. 

USGS Identifies Largest Continuous Oil and Gas Resource Potential Ever

Assessment units for the Wolfcamp Shale and Bone Spring Formation of the Delaware Basin.

(Public domain.)

WASHINGTON - Today, the U.S. Department of the Interior announced the Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico's Permian Basin province contain an estimated mean of 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids, according to an assessment by the U.S. Geological Survey (USGS). This estimate is for continuous (unconventional) oil, and consists of undiscovered, technically recoverable resources.

"Christmas came a few weeks early this year," said U.S. Secretary of the Interior Ryan Zinke. "American strength flows from American energy, and as it turns out, we have a lot of American energy. Before this assessment came down, I was bullish on oil and gas production in the United States. Now, I know for a fact that American energy dominance is within our grasp as a nation."