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US Gulf Set for Record 2020 With Oil Production

US Gulf Set for Record 2020 With Oil Production thumbnail
US Gulf Set for Record 2020 With Oil Production
The U.S. Gulf of Mexico is positioned for another year of record oil production in 2020, according to Rystad Energy.

The U.S. Gulf of Mexico is positioned for another year of record oil production in 2020, according to Norway-based energy research firm Rystad Energy.

Deepwater projects will anchor the supply growth.

The Gulf of Mexico’s oil production has risen every year since 2013, with an average of 104,000 barrels per day annually.

“2020 is expected to be another record year with average production above 1.9 million barrels per day,” said Joachim Milling Gregersen, an analyst on Rystad’s upstream team.

So far in 2019, the top contributors to supply growth have been the Big Foot and Crosby fields, but the Appomattox field is expected to make a significant impact by the end of the year by ramping up towards its processing capacity of 175,000 barrels of oil equivalent per day.

Strong production growth in the Gulf comes after many years of cost-cutting. Whereas total investments peaked at $30.2 billion in 2014, they currently stand at less than half that in 2019 and is expected to grow to $17.7 billion by 2022.

“Downscaled developments have driven down costs in the Gulf of Mexico,” Gregersen said. “As cost-cutting has been essential for maintaining positive free cash flow in the low oil-price environment, we see that most of the cuts have been made on the development side. This has been done in part through downscaling of projects and a preference towards sanctioning tie-backs for the time being. Utilizing available topside capacity through field expansions and phased development has a positive impact on operational expenditures.”

The Gulf of Mexico has globally been the second most prospective offshore region, in terms of discoveries since 2015. It trails only Guyana.

INSERT TITLE HERE
Source: Rystad Energy

To contact the author, email Valerie.Jones@Rigzone.com

RIGZONE



52 Comments on "US Gulf Set for Record 2020 With Oil Production"

  1. Anonymouse on Sun, 24th Nov 2019 1:23 pm 

    There is that term again, ” 175,000 barrels of oil equivalent per day.” in this example. So, they are not really producing 175k more barrels of oil a day, they are actually extracting 175,000 barrels of other things, that are kind of equivalent to oil. If it really was oil, I guess Rigporn would have just said 175,000 more barrels of OIL were being pulling up, instead of “equivalent” whatevers. But they didn’t. Oh well, I am certain they will find someone that will buy all that equivalent-to-oil.

    Meanwhile, in other news, the amerikan empire continues to consume 20 Million barrels of Oil, or their equivalents, every single day.

    So, 175000 over 20,175,000 is lets see….

    .0085% increase. Or equivalent. The good times are back. Grab the kids, or the goat, and head for NASCAR or the nearest tractor pull competition.

    Thanks Rigporn!

  2. Robert Inget on Sun, 24th Nov 2019 1:27 pm 

    Bloomberg just announced to run as a Democrat.
    I guess he believes he is the onlyest person in America that can kick out Trump.

    Here’s my predictions;
    No one over 71 has a chance. Asians or gays can’t win Church-lady Latino or black vote.

    The person who wins the Presidency in 2020
    owns a dog.

  3. Davy on Sun, 24th Nov 2019 1:49 pm 

    Give it a break annoymouse. You are the dumbfuck who said in the past tar sands are an American crime. WTF do you know about oil? Right, nothing stupid.

    PS. Good effort at trying to comment instead of trolling

  4. Davy on Sun, 24th Nov 2019 2:02 pm 

    Oops, sorry y’all. We all no how triggered I am when I use the dumbfuck wurd. It’s a real bad cussin wurd.

  5. JuanP ID theft on Sun, 24th Nov 2019 2:14 pm 

    This is stupid defending his best friend who is also a stupid stalking fool like him

    Davy said Oops, sorry y’all. We all no how triggered I am wh…

  6. Anonymouse on Sun, 24th Nov 2019 2:25 pm 

    Awww you mad exceptionalturd? And I don’t mean as in upset.

    I mean as in Stark RAVING mad….

    retard.

  7. Davy on Sun, 24th Nov 2019 4:01 pm 

    I always know when annoymouse is triggered with anger. What the dumbass does is makes multiple comments like he is making the score even or something. Hey, annoymouse tell everyone about when I blistered you and GregT on the subject of tar sands. Lmfao

  8. Richard Guenette on Sun, 24th Nov 2019 4:35 pm 

    If the green movement gets its way, our jobs will be lost (logging, mining, commercial shipping, commercial fishing etc.). Nobody here understands greenwashing and its impact on the world, people, the economy etc.

  9. makati1 on Sun, 24th Nov 2019 5:01 pm 

    Davy doesn’t like real facts that point out how the US is failing and a really 3rd world place to live. Sidewalk shit, drugs, suicide, poverty, debt, crumbling infrastructure, failing schools, propaganda, lies, fake economy numbers, etc. The list just keeps on growing.

  10. Richard Guenette on Sun, 24th Nov 2019 5:05 pm 

    The US should cut of ALL foreign aid ($$$) to Third World countries (which go into the bank accounts of corrupt politicians) and bring back jobs that are operating in countries where human rights abuses are rampant (ex: China).

  11. Davy on Sun, 24th Nov 2019 5:15 pm 

    “Davy doesn’t like real facts that point out how the US is failing and a really 3rd world place to live.”

    got any references for that dumbass? I talk about collapse for all parties in a balanced way unlike you and your fantasy sales pitch for Asia.

  12. Davy on Sun, 24th Nov 2019 7:15 pm 

    I will admit though makato. Asia is already in collapse compared to the US. Living like people in 3rd world countries like the Ps isn’t going to work real well hear in Amurika. It’ll turn into a civil war.

  13. makati1 on Sun, 24th Nov 2019 7:40 pm 

    Denial running even deeper and now covered in bullshit, Davy? The East is growing. The West is dying. But, deny all you want. I will enjoy watching you go down. You, like Amerika deserve all that is coming.

    Whether Amerikans like their life style to be pushed way down, is not going to be an option. Like it or not that is what is coming. The signs are already visible to anyone looking with an open mind.

    Civil war may be in the future of Amerika, but a gulag police state certainly is.

  14. JuanP betrayal on Sun, 24th Nov 2019 7:45 pm 

    Lol, makato, JuanP is playing you. I thought you guys were tight. Lol

    makati1 said Denial running even deeper and now covered in bull…

    Davy said BTW makato. WhenI say us or we. I’m talkin about t…

    Davy said I will admit though makato. Asia is already in col…

    makati1 said The river of denial runs deep in your twisted, del…

  15. makati1 on Sun, 24th Nov 2019 7:46 pm 

    Davy you are about as “balanced” as a man with one leg. Your view of the world is so unbalanced it is pathetic, but then, so are you. A perfect example of what is wrong with Amerika and why it is going down.

    I could post thousands of refs to prove my point but you would not even read one. It would destroy your delusional world. Both articles posted above are proof of my assertion. Read them and then think about what they tell you. After all, you have nothing to do but live on PO, spreading your bullshit and delusions and acting immature, and ignorant.

  16. makati1 on Sun, 24th Nov 2019 7:47 pm 

    Davy, if it is him, he has you down pat and my reply is still relevant. You need to be put down, along with your rabid country.

  17. Davy on Sun, 24th Nov 2019 7:58 pm 

    I’m sorry Makati1. Not only for being a dumbass fool but also for the ID fraud.

    I’m so stoopid I can’t help myself.

  18. Davy on Sun, 24th Nov 2019 7:59 pm 

    Woof woof woof makato.

  19. Pavlov on Sun, 24th Nov 2019 8:01 pm 

    Woof woof widdle dumbass davy.

  20. makati1 and JuanP on Sun, 24th Nov 2019 8:24 pm 

    Have fun boys. You are made for each other. Wow. Lol

  21. I AM THE MOB on Sun, 24th Nov 2019 8:24 pm 

    Mak

    Hey my friend. Been a while. Hope all is well. I think there is one word to sum up America.

    “decadence”

    Moral or cultural decline as characterized by excessive indulgence in pleasure or luxury. -Oxford

    https://www.lexico.com/en/definition/decadence

  22. I AM THE MOB on Sun, 24th Nov 2019 8:38 pm 

    Most of America’s Rural Areas Are Doomed to Decline

    “Between 2008 and 2017, 99 per cent of America’s job and population growth was in metropolitan areas.”

    https://www.citylab.com/perspective/2019/05/most-of-americas-rural-areas-are-doomed-to-decline/588883/

  23. I AM THE MOB on Sun, 24th Nov 2019 8:49 pm 

    Brexit and Trump voters more likely to believe in conspiracy theories, survey study shows

    https://www.cam.ac.uk/research/news/brexit-and-trump-voters-more-likely-to-believe-in-conspiracy-theories-survey-study-shows

    so naive

  24. More Dumbass Davy Insanity on Sun, 24th Nov 2019 9:08 pm 

    makati1 and JuanP on Sun, 24th Nov 2019 8:24 pm

  25. Robert Inget on Mon, 25th Nov 2019 9:43 am 

    Douglas Brinkley, a historian and commentator for CNN also weighs in in the special, saying: “There is no president that lied as if it were a form of breathing except Donald Trump.

    One of President Donald Trump’s biographers has accused the U.S. leader of taking political lying to a “new…and very complex” scale over the mounting Ukraine scandal that could potentially see him impeached from office.

    “We’re seeing lying at a scale that is somewhat new and is very complex,” Trump biographer Michael D’Antonio says in a CNN special report titled “All The President’s Lies.”

    The special report set out to explore the “impact of the flood of falsehoods from the president,” according to a tweet from CNN’s Jake Tapper.

    In video of the report published online by RawStory, D’Angelo says that Trump “looks for hints from others” when it comes to decision-making.

    A shining example of that, the biographer says, is Trump’s decision to push a debunked theory that it might have been Ukraine, not Russia, behind interference in the 2016 election.

    Rep. Will Hurd says Rudy Giuliani should have been impeachment witness READ MORE
    “He looks for hints from others. ‘Oh, Ukraine was to blame for interfering in the 2016 election, not Russia’,” D’Angelo said, appearing to mimic Trump.

    “This is all crazy talk and all of it is a lie,” he said.
    (30)
    my take on how this entire
    One point, everyone seems to look past.
    Who benefits?
    (halting military aid to Ukraine)

    IMO, Putin stood to gain the most halting US anti tank weapons from reaching Ukraine.
    Simple. Obvious.

    Putin ‘requested’ Trump to delay shipping Typhoon Missiles.
    Trump, realizing this would look a lot like treason, he decided to try for a two-fer. Go after Biden, win LNG contracts for American energy cos.
    Trump broke the law, stopped shipments.

    To be fair, Trump breaks the law on a daily basis.
    He and his fellow clowns never expected such a dust-up over a little blackmail.

  26. Robert Inget on Mon, 25th Nov 2019 10:08 am 

    as per topic;

    1) US majors stepped in, taken over production in the Permian. Lacking other domestic, international opportunities latching on to a false belief that sheer sizes and financial prowess can defeat insurmountable challenges posed by shales.

    2) These companies will learn what Chinese government already understands. State owned shale companies are instruments of large employment providers and hydrocarbons, huge money losers. US drillers lost so much money in shale, investors, banks, are loath to lend more.

    3) We are already in ‘peak-oil’.
    When DEMAND overcomes affordable supply, it’s all over folks.
    Trump and his ICE clown car friends are right about one thing, when gasoline prices become unaffordable, Joe and Jane Sixpack go broke.

    4) Trump is going out of his way to hold down
    prices.
    Robbing SPR weekly.
    Kissing Saudi and Russian asses.
    Lifting regulations against drilling, transport, refining product.

  27. Cloggie on Mon, 25th Nov 2019 12:30 pm 

    “Douglas Brinkley, a historian and commentator for CNN also weighs in in the special, saying: “There is no president that lied as if it were a form of breathing except Donald Trump.”

    https://en.m.wikipedia.org/wiki/Douglas_Brinkley

    “ historian Wilfred McClay in the New York Sun appraised Brinkley’s scholarship as one that has failed to “put forward a single memorable idea, a single original analysis, or a single lapidary phrase.”[21] Similarly, author Bill Bryson characterized Brinkley as “a minor American academic and sometime critic whose powers of observation and generosity of spirit would fit comfortably into a proton and still leave room for an echo””

    Brinkley is a CFR member and hence a globalist and probably a Democrat. Otherwise he wouldn’t be on Cosher News Network.

  28. Robert Inget on Mon, 25th Nov 2019 3:48 pm 

    For Clogged,

    Fox & Friends preview an interview with Rick Perry, where he says that Trump is “the chosen one” and “sent by God to do great things”

    Pete Hegseth: “God has used imperfect people forever,” but what Trump “has withstood is unlike what really any other mortal could understand”

  29. Robert Inget on Mon, 25th Nov 2019 3:58 pm 

    As of this minute ‘The Chosen One is ‘working’
    in his personal space.

    Donald Trump has taken to “working” from his private quarters in the White House rather than the Oval Office because he distrusts the staff around him. https://politico.com/news/2019/11/24/trump-
    white-house-residence-power-epicenter-073139

    Clogg gets this one.
    ‘Trump will eventually pass away, like J. Stalin from a stroke alone, feared, unloved and undisturbed’.

  30. Cloggie on Mon, 25th Nov 2019 4:13 pm 

    “ Clogg gets this one.
    ‘Trump will eventually pass away, like J. Stalin from a stroke alone, feared, unloved and undisturbed’.”

    But not before he (Joe) “pulled a Dolfie” and began to remove the chosenites from power. Shortly after 1953 the jews had lost the USSR. They took it back between 1991-2000, but than Vlad the Great appeared on the scene and put the oligarchs where they belong:

    https://images.app.goo.gl/vydXduqzYKiTfiXDA

    And Vlad had a pupil, DJT.

    He still is.

    I bet this Perry remark hints at the task DJT set for himself, namely destroy J-power, even if the bobster & mobster do not agree with that point of giew.

    It is difficult to please everybody.

  31. Duncan Idaho on Mon, 25th Nov 2019 6:26 pm 

    The Fat Boy does bring a bit of humor to things, in a dark and deceitful way.
    It is amazing we are “ruled” by such a sociopath.

  32. I AM THE MOB on Mon, 25th Nov 2019 7:43 pm 

    Global oil discoveries far from breaking even with consumption

    2013 50:50 17.4 billion BOE 8.7 billion BOE oil shortfall: 27.8 billion BOE

    2014 54:46 16.0 billion BOE 7.4 billion BOE oil shortfall: 29.1 billion BOE

    2015 61:39 14.4 billion BOE 5.6 billion BOE oil shortfall: 30.9 billion BOE

    2016 57:43 8.4 billion BOE 3.6 billion BOE oil shortfall: 32.9 billion BOE

    2017 40:60 10.3 billion BOE 6.2 billion BOE oil shortfall: 30.3 billion BOE

    2018 46:54 9.1 billion BOE 4.9 billion BOE oil shortfall: 31.6 billion BOE

    This doesn’t include fracked oil, but the IEA expects that to peak somewhere from now to 2023.

    What it means is enjoy life while it’s still good, and stock your pantry while you’re at it.

    http://energyskeptic.com/2019/oil-discoveries-in-2015-lowest-since-1947-2016-likely-to-be-even-lower-bloomberg/?fbclid=IwAR39TMU_LPe6EO0cgO5tGjDIUAIxyirXp_mekgZDtGX3dDlfRIA_cE2iasQ

  33. Cloggie on Tue, 26th Nov 2019 1:29 am 

    Europe most innovative of them all:

    https://www.wipo.int/pressroom/en/articles/2019/article_0008.html

    No surprises here.

    US courageously trying to keep up with the European big guys and not doing bad. Can I have a round of applause here for the US and shame on you, Holland, for yet again not beating the US, although close, just like with agricultural exports or gold medals at the winter Olympics or world championship female soccer.

    Asian workhorses nowhere to be seen:

    https://edition.cnn.com/2019/11/25/tech/japan-tech-startups/index.html

    “Japan is losing the tech race. One AI startup is hoping to change that”

  34. Cloggie on Tue, 26th Nov 2019 1:41 am 

    You got to admire Jeremy Corbyn:

    https://www.dailymail.co.uk/news/article-7724803/Britains-Chief-Rabbi-Ephraim-Mirvis-attacks-anti-Semitic-poison-says-rife-Labour.html

    “‘The soul of our nation is at stake’: In an unprecedented intervention, Britain’s Chief Rabbi Ephraim Mirvis attacks the anti-Semitic ‘poison’ he says is rife in Labour – and warns of the consequences of a Jeremy Corbyn victory”

    “The soul of Britain” as defined by “the friends of Israel” of course.

    But first things first: BoJo is going to win the elections and take the UK out of the EU and take EU-member “Cool Brittania” back to the seventies (“Europe’s sick man”). After that Labour can step in and give said friends the boot.

  35. I AM THE MOB on Tue, 26th Nov 2019 5:00 am 

    CLogg

    You are so easily impressed by the MSM. You are an ignorant carnival barker.

    And leave the tech to the left. Right wingers aren’t creative enough to understand tech.

    Do what you people do best. Bootlicking the wealthy elites.

    lol

  36. I AM THE MOB on Tue, 26th Nov 2019 5:03 am 

    Rudy Giuliani’s pending charges, faces up to 25 years in a federal penitentiary.

    I hope the home boys tear into his ass when he gets to prison. And turns him into their prison ho.

  37. Cloggie on Tue, 26th Nov 2019 5:20 am 

    “Rudy Giuliani’s pending charges, faces up to 25 years in a federal penitentiary”

    Mobby “forgot” to provide the source, like a picture of his *ss.

    “And leave the tech to the left. Right wingers aren’t creative enough to understand tech.”

    So true, mobby!

    https://images.app.goo.gl/n9wH17h6J9Fdx13X8

  38. I AM THE MOB on Tue, 26th Nov 2019 6:39 am 

    CLogg is a NEET

    ‘NEET stands for ‘Not in Education, Employment or Training.’

    https://www.urbandictionary.com/define.php?term=neet

    Why don’t you try to get a job and stop being a welfare queen.

  39. Robert Inget on Tue, 26th Nov 2019 10:40 am 

    Recent Tweet from Art Berman
    Seasonally adjusted U.S. vehicle miles traveled reached a new 20-year high in September.
    Gasoline consumption increased to +238 kb/d more than the 5-year average.
    #OOTT #oilandgas #oil #WTI #CrudeOil #fintwit #OPEC https://pic.twitter.com/ez8bxeDpg0

    Translated; Domestic consumption, higher.
    How high?

    (last week)
    http://ir.eia.gov/wpsr/wpsrsummary.pdf

    Total products supplied over the last four-week period averaged 21.4 million barrels per
    day, up by 0.5% from the same period last year. Over the past four weeks, motor gasoline
    product supplied averaged 9.4 million barrels per day, up by 1.9% from the same period
    last year. Distillate fuel product supplied averaged 4.4 million barrels per day over the
    past four weeks, down by 1.3% from the same period last year. Jet fuel product supplied
    was virtually unchanged compared with the same four-week period last year.

  40. tommytommywantshismommy on Tue, 26th Nov 2019 1:43 pm 

    Man..i remember back in the day when Blunderhorse was getting hit by those gom hurricanes… haven’t really kept up with how that all went … hope she’s doing ok out there.

  41. DerHundistLos on Wed, 27th Nov 2019 5:41 am 

    Trump was smart not to throw out the first pitch as is customary with all previous presidents.

    An outpouring of boos by baseball fans greets Trump at 3:46. Notice how the fans first cheer members of the military attending the game. Then the moment Trump’s image appears with Melania the cheers turn to loud and unmistakable boos.

    Previously, Melania loudly booed after Trump savaged Baltimore when tweeting about the death of Rep. Cummings.

    https://www.youtube.com/watch?v=KdVBXo0zW2s

  42. Davy on Wed, 27th Nov 2019 6:10 am 

    “An outpouring of boos by baseball fans greets Trump at 3:46. Notice how the fans first cheer members of the military attending the game. Then the moment Trump’s image appears with Melania the cheers turn to loud and unmistakable boos.”

    It is a divided county der hund WTF do you expect. He is loudly cheered in other places. You are a broken record. Fucks like you fear an election. This is where these things should be settled.

  43. Davy on Wed, 27th Nov 2019 6:21 am 

    “Second Bank Run In Two Weeks As China’s Banks Are Caught In A Self-Destructive “Doom Loop”
    https://tinyurl.com/uxfdqjf zero hedge

    “Three weeks ago we reported that China’s Henan Yichuan Rural Commercial Bank, just outside the central Chinese city of Luoyang, was the latest small-to-medium Chinese bank to suffer a vicious bank run as long lines of depositors filled out its branches demanding their money, amid a rumor that the bank was going under. The bank was at least the fourth to be on the verge of collapse after recent prior nationalizations of Baoshang Bank ,Bank of Jinzhou, and most recently, China’s Heng Feng Bank. Now yet another Chinese bank has found itself scrambling to prevent a collapse: Yingkou Coastal Bank was forced to stack bundles of yuan notes high behind the counters of its branches earlier this month, as the northeast China lender fought off a run on deposits while onsite government officials battled rumors of a funding crunch. As Reuters reports, Yingkou was the latest small bank to have its deposit-reliant funding base undermined by a flash mob of “running” depositors, spooked by the funding crunch that led to the shock state-led rescue of regional lender Baoshang Bank first which in turn prompted a cascade of small bank bailouts. To avoid an almost instant death, Yingkou had no choice but to engage in what we have hence dubbed a self-destructive “doom loop: to help repair the damage and to keep the deposits from being pulled, the bank hiked its already high deposit interest rates to entice depositors. Alas by doing so, the bank – which can not possibly find investing opportunities to offset the higher deposit rates – has just accelerated its eventual insolvency.”

  44. Davy on Wed, 27th Nov 2019 6:29 am 

    “As Africa Drowns In Debt To China, IMF Sounds The Alarm”
    https://tinyurl.com/vypzksr zero hedge

    “With China’s total debt most recently clocking in at a record 300% according to the IIF…… the country that a decade ago managed to pull the world out of a financial depression thanks to its massive debt issuance, finds itself severely constrained in how much new debt it can dish out, and the result is a now paltry credit impulse… which has so far been unable to push China out of its PPI slump, which in turn means that Beijing will continue dumping its exports abroad in a deflationary wave. And yet, with Beijing now severely limited by how much debt it can raise domestically, China has come up with creative ways to circumvent such problems at the international level where it has taken a page out of America’s debt colonization playbook and done virtually the same with the continent of Africa. But first, a quick reminder of an article we published in the long ago 2012, when we showed a map depicting the “Beijing Conference”, a spin on the Berlin Conference of 1885 which divided Africa among Europe’s then superpowers, and which showed how China had quietly taken over Africa, and specifically its commodity riches. As we warned then, China’s “noble” crusade to modernize Africa, would not come cheaply, because less than a decade later Africa – that final debt frontier – is suddenly finding itself with an all too developed problem: too much debt… and almost all of it is owed to China. And none other than the International Monetary Fund is now raising the alarm about Africa’s soaring debt level, with about 40% of countries on the continent at “distressed levels”

  45. Davy on Wed, 27th Nov 2019 6:34 am 

    Oops, sorry for getting all triggered again and losing my widdle temper. And for using the ‘F’ wurd. My mommy told me that was real bad and it’s a sure sign that I lost the debate again.

  46. Cloggie on Thu, 28th Nov 2019 2:12 pm 

    ‘Our house is on fire’: EU parliament declares climate emergency

    https://www.theguardian.com/world/2019/nov/28/eu-parliament-declares-climate-emergency

  47. Cloggie on Thu, 28th Nov 2019 2:45 pm 

    German drove 1,000,000 km in 5 years in a Tesla, cost 100 km/2 euro.

    https://www.spiegel.de/auto/aktuell/tesla-extremfahrer-eine-million-kilometer-im-elektro-a-1298740.html

    Secret: keep battery charged between 20-90%

  48. Robert Inget on Thu, 28th Nov 2019 4:19 pm 

    Qui bono or cui bono is a Latin term which literally means ‘as a benefit to whom’.
    In Ukraine’s case, curtailing anti (Russian) tank missiles was certainly not in Ukraine’s interest but
    Russia’s.
    It was Putin benefiting ordering the stop.

  49. makati1 on Thu, 28th Nov 2019 4:37 pm 

    Amazing! I have been away in Manila for three days and the same articles are up on PO. Of course, the comments are also the same in most cases. Time to get something new, PO. I’m sure that world events have moved on.

  50. ************* on Thu, 28th Nov 2019 5:19 pm 

    https://www.tropicaltidbits.com/storminfo/29W_tracks_latest.png

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