EIA: U.S. Gulf of Mexico Oil Production to Continue Growing

SUGAR LAND--October 17, 2019--Researched by Industrial Info Resources (Sugar Land, Texas)--In its latest Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) says that oil production in the U.S. Federal Gulf of Mexico was 1.8 million barrels per day (BBL/d) in 2018, and this is expected to rise 1.9 million BBL/d this year and 2 million BBL/d in 2020. This will account for about 15% of U.S. oil production in both years, although this a decline in value as onshore production outpaces offshore development. Industrial Info is tracking nearly $40 billion in active Production projects in the U.S. Gulf of Mexico, including about $4 billion worth that are planned to be completed next year. The EIA says new projects coming online this year are expected to contribute 44,000 BBL/d, followed by 190,000 BBL/d of new and ramped-up production in 2020.

Within this article: Details of offshore production projects in the Gulf of Mexico

Companies featured: Royal Dutch Shell plc (NYSE:RDS-A), TechnipFMC plc (NYSE:FTI), BP plc (NYSE:BP), Talos Energy Incorporated (NYSE:TALO)