Upstream Texas - Fall/Winter 2017 - 10

FE ATU RE

02

U.S. OIL AND GAS
PRODUCTION AND
PRICE OUTLOOK
By Bernadette Johnson,

VICE PRESIDENT OF MARKET INTELLIGENCE FOR DRILLINGINFO

FOLLOWING YEARS OF SUPPRESSED
market conditions, many see 2017 as the
comeback year for the U.S. oil and gas industry.
In wake of the crude price collapse in 2014,
U.S. production for both crude and natural
gas flattened, then dropped through 2016.
And even though prices for crude continue to
hover around $50 per barrel, U.S. producers
have tightened their belts and reemerged with
lower breakevens, more efficient operations,
and wells that are bigger than ever. As a result,
Drillinginfo is forecasting dramatic growth
through 2017, into 2018 and beyond.

10

Drillinginfo tracks 68 of the most important
operators across U.S. unconventional
plays. Specifically, the company follows
their CAPEX plans, operational trends
(such as drilling and completion costs),
lease operating expenses, and merger,
acquisition and divestiture (A&D) activity.
This information is paired with Drillinginfo's
detailed production and type-curve data
to generate short-term volume forecasts.
These forecasts represent the company's
best outlook for production through the end
of 2018.

UPSTREAM TEXAS F A L L | W I N T E R 2 0 17-2 0 18

Total U.S. crude production is currently
forecasted to grow 988,000 barrels per day
(bbl/d) between December 2016 and December
2017, and another 633,000 bbl/d by December
2018. Meanwhile, gross natural gas production
is forecasted to grow 4.88 billion cubic feet
per day (Bcf/d) between December 2016 and
December 2017, and another 2.89 Bcf/d by
the end of 2018.
The dramatic increase in production is a result
of a sharp increase in rig activity, shorter
drill times, bigger wells, and relatively low



Table of Contents for the Digital Edition of Upstream Texas - Fall/Winter 2017

Chairman’s Message
President’s Message
Texas Takes the Lead on Seismicity Research
U.S. Oil and Gas Production and Price Outlook
Special Infographic
Legislative Profile: Texas State Representative Brooks Landgraf
Regulatory Profile: Texas Water Development Board Chairman Bech Bruun
Member Profile: Parsley Energy CEO, Bryan Sheffield
New Members
Advertiser Index
Calendar of Events
Upstream Texas - Fall/Winter 2017 - Intro
Upstream Texas - Fall/Winter 2017 - cover1
Upstream Texas - Fall/Winter 2017 - cover2
Upstream Texas - Fall/Winter 2017 - 3
Upstream Texas - Fall/Winter 2017 - 4
Upstream Texas - Fall/Winter 2017 - 5
Upstream Texas - Fall/Winter 2017 - Chairman’s Message
Upstream Texas - Fall/Winter 2017 - President’s Message
Upstream Texas - Fall/Winter 2017 - Texas Takes the Lead on Seismicity Research
Upstream Texas - Fall/Winter 2017 - 9
Upstream Texas - Fall/Winter 2017 - U.S. Oil and Gas Production and Price Outlook
Upstream Texas - Fall/Winter 2017 - 11
Upstream Texas - Fall/Winter 2017 - 12
Upstream Texas - Fall/Winter 2017 - Special Infographic
Upstream Texas - Fall/Winter 2017 - Legislative Profile: Texas State Representative Brooks Landgraf
Upstream Texas - Fall/Winter 2017 - Regulatory Profile: Texas Water Development Board Chairman Bech Bruun
Upstream Texas - Fall/Winter 2017 - Member Profile: Parsley Energy CEO, Bryan Sheffield
Upstream Texas - Fall/Winter 2017 - New Members
Upstream Texas - Fall/Winter 2017 - Calendar of Events
Upstream Texas - Fall/Winter 2017 - cover3
Upstream Texas - Fall/Winter 2017 - cover4
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