While total crude oil production rose by 1%, Shell said that gas production had fallen 6%.
Yes indeed, thanks to fracking, crude oil production in the United States is surging.
Crude oil production accounted for more than three-fourths of Exxon's profit during the quarter.
In those days crude oil production was rising as fast as new oil fields could be found.
Rising crude oil production in Texas and North Dakota has contributed to a reversal of the long-term US production decline.
This is the highest level of crude oil production in 20 years.
World crude oil production has in some cases already peaked (sweet, light) while others (heavy, sour) it has yet to be will soon.
As a result, U.S. crude oil production was up 150, 000 barrels per day to 5.51 million bpd last year, despite downturns in Alaska and the Gulf of Mexico.
Now add onto that the fact that we have got, for the first time in a generation, growing crude oil production, growing natural gas production, and growing natural-gas liquids production.
The price spread between Brent crude oil, the European benchmark and West Texas Intermediate crude oil, the U.S. benchmark, widened sharply because of the loss of Libyan crude oil production.
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The company plans to boost its production by 200, 000 barrels per day, helping it achieve its goal of raising crude oil production capacity to 550, 000 bpd in 2012, the firm said.
Because of a technology boom, the U.S. Energy Information Administration predicts domestic crude oil production will be 7.1 million barrels a day in 2013 about a 10 percent increase over 2012.
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In its announcement of the proposed rules the department stated that U.S. crude oil production is at its highest level in 8 years, while natural gas production has eclipsed the previous production peak set back in 1973.
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Rail and supporting non-pipeline modes should be capable, as was projected in 2011, of providing the capacity needed to transport all incremental Western Canadian and Bakken crude oil production to markets if there were no additional pipeline projects approved.
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The Gulf of Mexico has become an important deepwater exploration and production region and it now contributes to 27% of the total crude oil production in the U.S. BP owns the largest acreages in the Gulf and plans to resume drilling in the region to prop up its declining crude production.
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We anticipate roughly stable oil production in the coming years for ConocoPhillips, estimating that its crude oil and NGL production will reach 471 million barrels by the end of our forecast period.
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We project flat crude oil and NGL production by ExxonMobil in 2011, as compared to 2010 levels.
The point here is that there are actually a number of different crude oil markets and peak production in one does not mean peak production in another.
The solution to this is free trade in crude oil: some portion of US production should be shipped abroad and replaced with crude of a different grade to make up that optimal mixture.
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Hess Corporation, is a global integrated energy company engaged in the exploration for and the production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products, electricity.
Production of crude oil is down more 70% from its high in the 1980s.
Production of crude oil and natural gas is booming on the back of the explosion of the fracking industry.
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Mexico and Venezuela, two historically large exporters of crude oil, have radically reduced production in the past few years, making imports from Canada that much more essential.
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According to the U.S. Energy Information Administration, U.S. field production of crude oil was 5 million barrels per day in 2008 and had grown to 5.66 million per day last year.
Bush and Obasanjo were scheduled to retire to the White House shortly after the Rose Garden announcement to discuss a wide variety of issues -- most notably Bush's hope to convince OPEC to boost its daily per-barrel production of crude oil, as the U.S. anticipates a supply shortage heading into the summer.
Petrobras is a vertically integrated oil company, participating in exploration, production, refining and retailing of crude oil and gas.
Crude oil supplies are high, oil production is booming and the economy isn't growing very fast.
Natural gas is a cleaner fuel than coal and crude oil and is becoming increasingly important with governments across the world encouraging the production and use of natural gas over coal and crude oil for energy generation.
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Brent crude prices have fallen on hopes that oil production in Libya will return soon, even though those assumptions may prove to be overly optimistic.
They called for more investment in the production and refining of crude oil, for more efficient use of energy and more work on alternatives to oil.
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