- Pleasantly surprised to see EIA’s August numbers posted on time despite the govt shutdown. Kudos to EIA.
- August production (1.979 million bopd) was the highest since Feb. 2020 (1.995 million bopd).
- The last month with ave. daily production >2 million bopd: Nov. 2019 (2.001million bopd)
- Record high Gulf oil production: Aug. 2019 (2.044 million bopd). That record could soon be surpassed given the ongoing deepwater ramp up.
- Gas production, which is now overwhelmingly from oil wells, also ticked up. However, gas production remains at historically low levels. (See charts below.)
- Time to take another look at ultradeep shelf gas? More on this in a later post.
Bud's Offshore Energy (BOE) 