Gulf of Mexico oil output expected to soar

[peejay 327]

Gulf of Mexico oil output expected to soar

By KRISTEN HAYS

2007 Houston Chronicle

Action in the Gulf of Mexico's deep waters is growing so much that oil production could grow by more than 50 percent in the next decade, the federal agency that oversees oil and gas activity off the nation's coastlines reported today.

"With the continued interest and activity in the deepwater area of the Gulf, we anticipate that oil and gas production will continue to be strong with a large portion of the production coming from the projects in deeper water depths," Lars Herbst, acting regional director of the Gulf for the Minerals Management Service, said at the Offshore Technology Conference in Houston.

The service is an agency of the U.S. Interior Department.

Gulf oil production now stands at 1.35 million to 1.4 million barrels a day.

Through 2016, total Gulf oil production is expected to surpass 1.7 million barrels a day with existing shallow and deepwater operator commitments. Production could reach 2.1 million barrels if industry-announced discoveries and undiscovered resources reach their full potential, Herbst said.

The forecast assumes a string of new platforms begin production as planned.

Those include Thunder Horse, a BP-run platform that has been plagued by equipment and operational delays. Originally slated to begin production in 2005, Thunder Horse is slated to go on line next year, pumping 250,000 barrels a day of oil — the most of any Gulf platform.

Other projects included in the forecast include BP's Atlantis platform, which will be the second-largest in the Gulf with production capacity of 200,000 barrels a day. Atlantis' original start-up date of this summer was pushed to year-end.

And Chevron Corp. aims to place its Tahiti platform in the Gulf this summer, with an eye toward beginning production of 125,000 barrels a day next year.

Projects in depths exceeding 1,000 feet are defined as deepwater operations. The Tahiti, Atlantis and Thunder Horse projects sit in 4,000 feet of water or more.

Herbst said they and other projects illustrate growing interest in the Gulf's deep waters.

More than half of the 7,855 active oil and gas leases in the Gulf are in depths exceeding 1,000 feet. Last year 70 percent of the Gulf's oil came from those leases, Herbst said.

From 2005 to 2006, the number of tracts that attracted bids from companies for oil and gas leases in depths ranging from 1,500 feet to 4,999 feet rose 32 percent, Herbst said. Bids for leases on tracts in depths ranging from 5,000 feet to nearly 7,500 feet rose by 20 percent.

"There's solid evidence in both leasing and exploration activities to confirm the oil and gas industry's continued interest and motivation to explore and develop the deepwater frontier," he said.

On Monday the Interior Department rolled out a final proposed five-year plan to open tracts in previously off-limits areas for lease bids in the Gulf as well as along the entire coast of Alaska and part of the coast of Virginia. The Gulf areas are off Alabama and the western portion of the Florida panhandle.

Congress has two months to review the proposal.

Chevron Corp. noted that some of that new Gulf acreage is in ultra-deep water, defined as 6,000 feet more than 100 miles from shore.

"Any exploration in these frontier areas will be costly and very risky," the company said. "It will be years before the true potential in this deepwater area is finally known."

http://www.chron.com/disp/story.mpl/front/4765035.html

[Ban Hammer 14,269]

how many barrels of oil does the usa use per day?

[isleta521 5]

how many barrels of oil does the usa use per day?

quick google = 20.5 million BPD (2004)

source EIA

[peejay 327]

how many barrels of oil does the usa use per day?

This CIA World Factbook link sez almost 20.73 million bbls. per day. But we only produce 7.61. The difference is imported.

https://www.cia.gov/cia/publications/factbook/print/us.html

[Ban Hammer 14,269]

how many barrels of oil does the usa use per day?

quick google = 20.5 million BPD (2004)

source EIA

i'm trying to kick start his thread

how many barrels of oil does the usa use per day?

This CIA World Factbook link sez almost 20.73 million bbls. per day. But we only produce 7.61. The difference is imported.

https://www.cia.gov/cia/publications/factbook/print/us.html

so this could provide us with 1/10 of our needs. now to find out how much we can get outta alaska.

[Robor007 0]

Or we could focus more on reducing our consumption and researching alternative fuels. Nah, that makes too much sense.

[peejay 327]

Or we could focus more on reducing our consumption and researching alternative fuels. Nah, that makes too much sense.

How about if we initiate immigration reform (open borders) adding maybe 100 million+ more people to the USA in the next 50 years or less? Do you think it would help us get Greener or lessen our energy dependence? (Something to think of while all these May Day protests are in high gear).

The truth as I see it is that taking one little snippet of news without applying it to the big picture is a big mistake.

There is a lot of contradictory and counter-productive snippets going on in America that fail to take into account the big picture. Energy, carbon reduction, global warming, the environment, immigration, etc. are just a few of the examples. People take a stance on one and fail to see how they are inter-related.

Thinking that technology and/or something else coming to the rescue around the corner in the mythical future is rather short sighted in my opinion.

Just food for thought.

I really don't see some magic hidden pool of oil under the Gulf or Arctic that will let us keep going with the status quo. Nor do I see planting corn from sea to shining sea as a solution either. I don't believe it is that easy or painless. There may eventually be a rude awakening.

For now it is more about making money in the short term.

[Jasman0717 9]

On my way home for lunch I noticed that the station where I normally buy gas just raised the price another six cents a gallon to $3.45 9/10. Holy Comoly, there goes my kids' inheritance

[cmartyn 0]

Yep, the price will drop the demand. Quick scouting of the parking lot at my workplace says we have a long way to go on the price side. How about 6 bucks or so. Lemme see, that would cost about 120 bucks to fill up an Escelade. Yeah those dub dubs look real sharp in the driveway.

[Robor007 0]

Or we could focus more on reducing our consumption and researching alternative fuels. Nah, that makes too much sense.

How about if we initiate immigration reform (open borders) adding maybe 100 million+ more people to the USA in the next 50 years or less? Do you think it would help us get Greener or lessen our energy dependence? (Something to think of while all these May Day protests are in high gear).

The truth as I see it is that taking one little snippet of news without applying it to the big picture is a big mistake.

There is a lot of contradictory and counter-productive snippets going on in America that fail to take into account the big picture. Energy, carbon reduction, global warming, the environment, immigration, etc. are just a few of the examples. People take a stance on one and fail to see how they are inter-related.

Thinking that technology and/or something else coming to the rescue around the corner in the mythical future is rather short sighted in my opinion.

Just food for thought.

I really don't see some magic hidden pool of oil under the Gulf or Arctic that will let us keep going with the status quo. Nor do I see planting corn from sea to shining sea as a solution either. I don't believe it is that easy or painless. There may eventually be a rude awakening.

For now it is more about making money in the short term.

I know you've got a hard-on for immigration 'whatever your fix' but this threat was started - by you - as an oil thread. That said, what do illegals have do do with it?

In reference to the bolded - There is no mythical future around the corner but don't you think we should be working on it rather than feeding the monster?

[homesick_american 1]

Or we could focus more on reducing our consumption and researching alternative fuels. Nah, that makes too much sense.

Yeah, really.