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Page added on June 13, 2018

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The Texas Oil Boom Is Lean And Sweet

Production

Drillers in the Texas oil patch are reaping the benefits of efficiency gains wrung out painfully during the recent bust. A record 4 million barrels a day come out of the Lone Star State, up 15% from 2014, when prices last hit $100 a barrel–and the industry is doing so with three quarters of the workers and just over half the drilling rigs.

Texas Oil, Peak Cyclical Employment

October 2008 December 2014 March 2018
Workers 211,100 295,100 215,900
Production (bbl/day) 1.125 mil 3.532 mil 4.052 mil
Rig Count 925 872 492

Source: Karr Ingham.

Forbes



7 Comments on "The Texas Oil Boom Is Lean And Sweet"

  1. "Lucifer" on Wed, 13th Jun 2018 4:54 pm 

    Lean and sweet, lol. Not for long, the so called Texas oil boom will turn into a bust very soon. Trust me i know these things.

  2. Boat on Wed, 13th Jun 2018 5:14 pm 

    Yo devil boy, got a date on that bust? Why are timelines so hard to come by.

  3. "Lucifer" on Wed, 13th Jun 2018 5:39 pm 

    Yo Boat, yes i do have a date on that bust but i am not going to tell any of you lot, that is privileged information on a need to know basis. I can give you a little hint that the bust will be sometime before 2024.

  4. Sissyfuss on Wed, 13th Jun 2018 5:43 pm 

    Lucifer, is my new girlfriend telling me the truth when she says she only stripped as fodder for a book she is writing?

  5. "Lucifer" on Wed, 13th Jun 2018 6:35 pm 

    Sissyfuss, you will have to make up your own mind on that, by the way is she hot? lol.

  6. Sissyfuss on Wed, 13th Jun 2018 7:06 pm 

    She will be when you get her.

  7. Free Speech Forum on Fri, 15th Jun 2018 1:42 am 

    When your country is collapsing, a patriotic American cannot help but becoming obsessed with trying to save it.

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