| Gulf of Mexico Oil Industry News |
The US is the world's largest energy producer, consumer, and net importer,
ranking 11th worldwide in reserves of oil, 6th in natural gas,
and first in coal.
The United States contains over a half million producing oil wells,
most of which are "marginal" or "stripper" wells.
During 2004, top oil producing areas included the Gulf of Mexico
(1.5 million
bbl/d), Texas onshore (1.1 million bbl/d), Alaska's North Slope
(886,000 bbl/d), California (656,000 bbl/d), Louisiana onshore
(228,000 bbl/d), New Mexico (176,000 bbl/d), Oklahoma (171,000
bbl/d), and Wyoming (141,000 bbl/d).
Onshore US production has been falling, while in recent years offshore
(mainly Gulf of Mexico) production has been rising. For 2005, prior
to
Hurricanes Katrina and Rita in August and September, Gulf of Mexico
oil production had been expected to increase due to new fields
coming online in 2003 and 2004 (e.g., the southern Green Canyon deepwater
area). By late 2005, the Mars, Mad Dog, Ursa, Thunder Horse and
Nakika Federal Offshore fields had been expected to account for
about 12 percent of Lower-48 oil production, however hurricanes
Katrina and Rita did substantial damage in the GOM.
Toward the end of 2005, 46% of the Gulf of Mexico's
1.5 million bbl/d crude oil production capacity remained offline,
40% of the area's 10 billion cubic feet per day (Bcf/d)
of natural gas production capacity also down.
The 2006 - 2007 hurricane season is also predicted to
be extremely active with nearly twice the normal number of storms
predicted. |
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