Austin, TX (May 8, 2019) – Drillinginfo, the leading energy SaaS and data analytics company, has released an update on exports as a part of their FundamentalEdge series. The report points to continued production growth of crude oil, natural gas, and NGLs, that outpaces domestic demand, with the supply surplus heading overseas. “The story on the future of oil and gas in America is becoming clearer. Every incremental barrel of production since the middle of 2016 has been exported. As U.S. crude oil production grows, all incremental barrels are (and will continue to be) exported,” said Bernadette Johnson, Vice President of Market Intelligence at Drillinginfo. “To facilitate this rapid increase in exports, additional infrastructure will be critical. Without it, operators will be stuck with a valuable product, but limited options of how to send it to market,” said Johnson The report highlights that most of this infrastructure will be built in Houston and Corpus Christi, Texas. Corpus Christi is expected to be the leading point of export moving forward, due to its proximity to the Permian and Eagle Ford basins and being a less congested port. As natural gas production continues to grow faster than domestic demand, more gas is… continue reading
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Source: CTRM Center