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Page added on July 14, 2020

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Shale CEO: U.S. Has Passed Peak Oil

Shale CEO: U.S. Has Passed Peak Oil thumbnail

Crude oil production has already peaked in the United States, according to a leading independent oil producer in the U.S. shale patch.

Chief executive of Parsley Energy Matt Gallagher said that the peak production that the United States hit back in March—13.1 million bpd on average—represented shale’s glory days, ne’er to be repeated, according to the Financial Times.

That forecast comes as the Energy Information Administration published its monthly Drilling Productivity Report, which shows the month of August should see even less production from the seven largest shale plays in the United States than July saw—and that wasn’t pretty for shale producers.

In August, the EIA expects production in the seven largest shale plays to fall another 56,000 bpd, to 7.49 million barrels. Oil production for July is estimated at 7.546 million barrels, down from an estimated the 7.632 million barrels per day that it estimated for July in last month’s report.

In August, just like July, the biggest production dropoff in absolute terms is expected to be in the Eagle Ford, with a projected loss of 23,000 bpd, to 1.106 million bpd. Anadarko and Niobrara basins are each expected to drop by 18,000, and the Permian basin is expected to fall by 13,000 bpd.

“I don’t think I’ll see 13m [barrels a day] again in my lifetime,” Gallagher told the Financial Times.

His prediction doesn’t look as crazy as previous calls for peak oil, considering that the production level of 7.5 million bpd that the EIA is anticipating for next month represents a two-year low.

The EIA expects U.S. production to come in at 11.6 million bpd this year, and 11.0 million bpd next year, according to the latest Short-Term Energy Outlook. It’s longer term projections, however, made before the coronavirus pandemic, are for increased production over the next decade.

OPEC, too, is expecting crude oil production, including lease condensate, to increase in the United States over the next decade, before falling off.

By Julianne Geiger for Oilprice.com



32 Comments on "Shale CEO: U.S. Has Passed Peak Oil"

  1. Nostradamus on Tue, 14th Jul 2020 7:40 pm 

    Oil companies are producing less oil because demand has dropped dramatically due to the corona-virus recession.

  2. JuanP on Tue, 14th Jul 2020 7:43 pm 

    Forum please note this for the last time:

    We (juanPee, JuanP, Nostradamus, supremist muzzie jerk, Richard Guenette, Boney Joe, Truth Buster, Gaia, Kenz300,DT, Rick, Socialrevolutioncoming.FamousDrScanlon….are spending less time on this lame unmoderated forum to concentrate on our chronic depression. We want to thank Davy for moderating us because we need it. We have saved the best of are comments for are new blog. We have years worth of sock material. We have enjoyed being moderating and neutering because our agendas. We will still be here it is just we will be spending more time putting laying in the fetal position in bed. We don’t expect much of help with depression. This is more a suicidal condition over the last 10 years of formulating are REAL Depressed. Many of my suicidal thoughts and filthy lifestyles our my egotistical way of life. We plagiarize and do ID theft daily ruining this forum. Anyone can kill themselves. Do it if it feels good I am thinking about it. For stalkers like me I hope I find more stalking opportunities. LOL. There will be a prize for anyone who can find where I live and rat me out. Double LOL. Anyway fuck are all of you I hate everyone including myself. I guess we could post more on the moderated section at PO dot com, but we knew we’d get are ass permanently banned for the socks and ID theft stupidity. We’ll try not to let the door smack us up the backside on the way out.

    Goodbye to ALL of you dumbasses.

  3. makati1 on Tue, 14th Jul 2020 7:44 pm 

    We hate this lame unmoderated forum. That’s why were here from the time we gets up in the morning, til mommy tucks us in for beddy-byes.

  4. Nostradamus on Tue, 14th Jul 2020 7:45 pm 

    So true mak so true

  5. Duncan Idaho on Tue, 14th Jul 2020 7:51 pm 

    We are not at peak oil.
    That happened globally in Nov 2018.
    We are millions of barrels less, and have been even before covid.

  6. Davy on Tue, 14th Jul 2020 7:51 pm 

    Nice try juanPee. That was our comment.

    fuckwack

  7. REAL Green on Tue, 14th Jul 2020 7:56 pm 

    Could we PLEASE go see the docter now Davy? Nobody here is interested in are stupidity any more.

  8. Anonymouse on Tue, 14th Jul 2020 8:09 pm 

    Nice try juanPee. That was our comment.

    fuckwack

  9. makati1 on Tue, 14th Jul 2020 8:10 pm 

    Could you PLEASE go see the docter now juanPee? Nobody here is interested in are stupidity any more.

  10. JuanP on Tue, 14th Jul 2020 8:12 pm 

    “We are not at peak oil.”

    Duncan, the US will never pass Peak Oil, NEVER!

  11. on the moderated side on Tue, 14th Jul 2020 8:19 pm 

    Re: China is finished… This is the End of China
    Postby REAL Green » Tue 14 Jul 2020, 20:18:15
    https://peakoil.com/forums/viewtopic.php?p=1454060#p1454060

    jedrider wrote:
    I think that was humor.

    REAL Green wrote:
    JuanP’s emotions are humorous. He of course believes anything that fits his emotional attachments and this is so evident with China. China is in a huge slump just as the rest of the world is. They are pumping their markets up and pushing economic recovery but the rest of the world is not cooperating. So China is doing what it has done for decades now and that is push the supply side to yield results but if little is being bought then all you are doing is stockpiling. There is no full recovery but JuanP believes these things because he wants them to be true.

  12. JuanP on Tue, 14th Jul 2020 8:21 pm 

    I did not see that because I have REAL Green on ignore. This did not happen and I never saw it nor will I ever see any of it. I promise.

  13. Duncan Idaho on Tue, 14th Jul 2020 8:48 pm 

    We’ve been Sunk by Chickenhawks like Trump, but will the Veterans in Congress Save Us?

    https://www.juancole.com/2020/07/chickenhawks-veterans-congress.html

    Naw, don’t think so.

  14. makati1 on Tue, 14th Jul 2020 9:23 pm 

    Do you mean the Congressional whores? They are ALL owned by big corp and don’t give a real damn about you or me. Government is a curtain for the real powers to hide behind, not democracy.

    I’m glad I do not live there any longer. Best decision of my life.

  15. REAL Green on Tue, 14th Jul 2020 9:58 pm 

    “jedrider wrote: I think that was humor.”

    jedrider was agreeing with juanPee Davy. But we can always get into a war with jedrider over on the intelligent moderated side. We don’t need to drag are problems over hear. No one cares. We should try not bein so emotional about shit all the time. It’s all a part of growin up.

  16. Davy on Wed, 15th Jul 2020 5:30 am 

    JuanP on Tue, 14th Jul 2020 9:58 pm
    “jedrider wrote: I think that was humor.” “jedrider was agreeing with juanPee Davy.”

    I was showing the humor in both of you.

    “But we can always get into a war with jedrider over on the intelligent moderated side. We don’t need to drag are problems over hear.”

    There will be no rest for you fuck nut. I will take you down wherever you are and enjoy it. You fucked with the wrong person. You think you can be a troll and a lunatic on one side and legit and respectful on the other? You are just a psychopathic POS that has no postion but your narcissistic BS. I have told you this 100 times over these years since you have gone into this troll activism, you ignore me I will ignore you. This means your idiot socks too, otherwise it is open season on the lunatic. Daily I will, take enjoyment in exposing your mental illness and lame low IQ positions. This is no problem and I have plenty of time to deal with you. Again, you fucked with the wrong guy and now you will pay.

    “No one cares. We should try not bein so emotional about shit all the time. It’s all a part of growin up.”

    You care and that is what matters. You are suffering because I humiliate you. You can’t have your free time to dominate the forum. You can’t have your safe space on the moderated side because I moderate your every comment. You ruin this place because you must have your way with me because if you ever cry uncle I win and you lose. You can’t do that even though it would allow this forum to heal.

  17. ANSEL REAPER this stuff used to happen in bumfk allahland and still prevalent to day but now its here Body of millionaire tech entrepreneur, 33, is found decapitated and dismembered next to electrical saw in his luxury Manhattan apartment after on Wed, 15th Jul 2020 6:11 am 

    footage showed him sharing elevator with professional killer

    muzz news

    please love supremacist muzzies

    suckle hard on that muzz ck in your mouth

    please wear your face DIAPER-19 to stop CONVICT-19

    danke

  18. ANSEL REAPER On This Day... Jul 15, 2014: Urgun, Afghanistan A Religion of Peace suicide bomber goes off at a packed market: 89 Killed on Wed, 15th Jul 2020 6:16 am 

    thanks supertard glenn robersts thereligionofpeace

  19. footage showed him sharing elevator with professional killer muzz news please love supremacist muzzies suckle hard on that muzz ck in your mouth please wear your face DIAPER-19 JuanP to stop CONVICT-19 danke on Wed, 15th Jul 2020 6:18 am 

    ANSEL REAPER this stuff used to happen in bumfk allahland and still prevalent to day but now its here Body of millionaire tech entrepreneur, 33, JuanP is found decapitated and dismembered next to electrical saw in his luxury Manhattan apartment after

  20. thanks supertard JuanPee thereligionofpeace on Wed, 15th Jul 2020 6:19 am 

    ANSEL REAPER On This Day… Jul 15, 2014: Urgun, Afghanistan A Religion of Peace suicide bomber goes off at a packed market: JuaanP is Killed

  21. REAL Green on Wed, 15th Jul 2020 7:58 am 

    “JuanP is found decapitated and dismembered”
    “ JuaanP is Killed”

    We need to see the docter Davy.

    REAL Bad like.

  22. the board on Wed, 15th Jul 2020 8:59 am 

    JuanP on Wed, 15th Jul 2020 7:58 am

    “JuanP is found decapitated and dismembered” “ JuaanP is Killed”

    “We need to see the docter Davy. REAL Bad like.”

    JuanP, I have been telling you for many months now you need help. You are sick and need therpy and probably drugs. It may be the case you need to be committed

  23. Duncan Idaho on Wed, 15th Jul 2020 9:02 am 

    Florida on Sunday chalked up more new COVID-19 cases in a single day — 15,000 — than South Korea has so far in the entire pandemic.

    (But South Korea has better testing)

  24. Duncan Idaho on Wed, 15th Jul 2020 9:05 am 

    “Medal of Freedom recipient Rush Limbaugh: Americans should “adapt” to coronavirus, like pioneers who “had to turn to cannibalism””

    These wingnuts are amazing!

  25. Abraham van Helsing on Fri, 17th Jul 2020 3:43 am 

    “These wingnuts are amazing!”

    And soon your military opponent!

  26. Davy on Fri, 17th Jul 2020 4:42 am 

    Idaho, needs to look in the mirror and see the real stupidity is in his blue enclaves:
    https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2020-07-16_17-59-59.jpg?itok=J-GG712e

    Much of the US numbers occurred on his peoples watch. Now the BLM crap is on his watch. Yet, the dumbass points fingers at everyone but himself

  27. Davy on Fri, 17th Jul 2020 4:51 am 

    “Travelers Are Buying These Hazmat Suits For Planes”
    https://www.zerohedge.com/technology/paranoid-travelers-are-buying-these-hazmat-suits-planes

    “With face masks now mandatory on many North American flights, a Toronto-based technology startup has designed a custom hazmat suit to be worn on planes and in public areas. VYZR technologies specialize in developing and building protective equipment, including the new BioVYZR, a stylish bio-suit fitted with a powered air-purifying N-95 respirator and anti-fogging windows. The suit resembles a plastic bubble worn by Jake Gyllenhaal in the 2001 movie Bubble Boy.”

  28. RPG on Fri, 17th Jul 2020 3:56 pm 

    If fracking can be done in America, it should be done everywheres.

  29. RPG on Fri, 17th Jul 2020 5:47 pm 

    You do not have to be a President to be an American patriot. One of the greatest American patriots in modern times was the Rev. Doctor Martin Luther King, Jr. who was a leader in the Civil Rights movement. Those soldiers who served our nation during two World Wars, during the Korean War, during the Vietnam War, during the Cold War, in all our nation’s struggles were patriots. One of these would be Rosa Parks who refused to give up her seat, an action which sparked the Montgomery Bus Boycott, she like Susan B. Anthony, was a patriot.
    What do all these American patriots have in common? What belief and values qualify them as American patriots? Perhaps it is the fact they love their country, they honor the American flag and the Republic for which it stands, and they believe in the ideal of liberty and justice for all!

    This then is the single most determining quality engendered by all American patriots, love for their country, love for these United States of America, respect for the American flag and the Republic for which it stands. What this really means given we are one people, a nation, is that an American patriot expresses their feeling of brotherhood, their bond and love for each other as one nation, under God, with liberty and justice for all.

    An American patriot is then anyone who loves their country. When that love is expressed through works, deeds or acts which contribute to those ideals which they cherish and upon which our great nation is founded and built, then we have acts of patriotism, then we have an American Patriot whose actions build upon that foundation of liberty our nation’s founding fathers laid.

  30. the board on Fri, 17th Jul 2020 7:05 pm 

    juanP what does RPG mean?

  31. REAL Green on Fri, 17th Jul 2020 7:24 pm 

    You should ask RPG that Davy. Cus juanPee and RPG are obviously not the same person.

    stupid

  32. Davy on Sat, 18th Jul 2020 4:46 am 

    JuanP on Fri, 17th Jul 2020 7:24 pm

    “You should ask RPG that Davy. Cus juanPee and RPG are obviously not the same person. stupid”

    Just another one of you idiot personality disorders, stupid


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