Oil production is forecasted to decline after a peak rate is achieved in 2015.
Calgary, Alberta (PRWEB) December 17, 2015
Solomon Natural Gas Services, a division of HSB Solomon Associates LLC (Solomon), today announced the release of its “North American Oil and Associated Gas Outlook” report. This report provides Solomon’s detailed oil production outlook for the major oil supply basins in the US and Western Canada, and a roll-up for North American oil and associated or solution gas production.
“Oil production is forecasted to decline after a peak rate is achieved in 2015. This drop is primarily due to a reduction in conventional oil production, including Alaska, Gulf of Mexico Deepwater and Western Canada,” said Lev Virine, Manager Gas Consulting at Solomon and report author. “Tight oil production from plays such as Permian, Eagle Ford and Bakken will drop in 2016–2018 before increasing later in the forecast period. However, this growth will not be enough to compensate for declining conventional oil production.”
Figure 1 illustrates historical oil production through 2014 and the outlook in North America from 2015 to 2022.
Other recent and widely read Solomon reports available for purchase include:
- Gas Price Basis Differentials Forecast to 2022
- Henry Hub Gas Price Outlook to 2022
- Gas Production Outlook by Basin to 2022
- Mexico Natural Gas Outlook to 2022
- Growth of North American Natural Gas Demand to 2022
- US and Canadian Gas & Oil Reserve Replacement for 2014
- Western Canada Natural Gas Production Outlook to 2022
- Impact of Low Oil Prices
- Gas for Power Generation to 2022
- North American Natural Gas Liquids Production Outlook to 2022
- North American LNG Exports to 2022
- Pipeline Capital Costs in North America
- Pipeline Repurposing
- Shale Gas Production Outlook by Play to 2022
- North American Gas Ultimate Potential Resource
- Gas Demand for the Oil Sands to 2022
- Canadian Gas Exports to 2020
- North American Natural Gas Storage
About Solomon Associates
HSB Solomon Associates LLC (Solomon) is the leading performance improvement company for the global energy industry. Solomon’s benchmarking and advisory solutions help customers across the energy value chain achieve operational excellence by increasing efficiency, reliability, and profitability. Solomon also provides forecasting and advice on the North American gas market. Solomon’s proprietary analytics uniquely transform data into insight for making better business decisions. Based in Dallas, TX USA, Solomon is part of The Hartford Steam Boiler Inspection and Insurance Company (HSB). Learn more at SolomonOnline.com.