American Oil and Gas Reporter - February 2019 - 33

forestry support activities industry, 2.2
for the water transportation industry, 4.2
for the truck transportation industry, and
4.2 for the waste management and remediation services industry.
In addition to releasing its report, API
mentions that it partnered with OSHA
for "Safe+Sound Week," a nationwide
event in August 2018 intended to raise

awareness and understanding of the importance of safety and health programs.
API says this includes management leadership, worker participation, and a systematic approach to finding and fixing
hazards in workplaces.
API also has published a handbook,
Rules to Live By, which contains fundamental safety reminders for workers and

employers. Each page of the handbook
may be printed as a poster to remind
workers of important safety tips while
doing things such as working at heights,
implementing stop-work authority or driving safely.
API's safety-related material may be
accessed through the association's website
at www.api.org.
r

Report Sees Higher Offshore Spending
Historically, the United States, Russia
and Saudi Arabia have consistently switched
places at the top of the list of the world's
largest global producers of liquids (crude
oil, lease condensate and natural gas liquids), but analysis from Rystad Energy
projects that the United States will produce
more liquids than Russia and Saudi Arabia
combined by 2025.
"The United States, having regained
its position as the world's top liquids
producer in 2014, is poised to accelerate
into a league of its own over the next
six years and eclipse the collective

output of its two closest rivals by 2025,"
according to Rystad Energy Partner
Artem Abramov.
Growth in U.S. liquids production will
be driven by onshore shale basins,
Abramov says, noting that the forecast is
based on an average West Texas Intermediate oil price of $58 a barrel through
2025. "As long as average WTI prices
stay above $50/bbl, positive U.S. production tendencies will persist," he states.
There is one caveat, however. Given
the steep production decline rates of shale
wells, consistently strong annual capital

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and as a wrong way driver deterrent to create a
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expenditures-on the order of 20 percent
higher than the investment level in the
U.S. oil patch in 2018-are needed to deliver on Rystad's base production forecast,
according to Abramov.
"Some market participants have
voiced concerns about a possible depletion in resources from core parts of
major liquids basins, but there are no
indications that such a development will
occur anytime soon," Abramov notes.
"While Rystad Energy generally applies
a conservative approach when estimating
remaining drilling inventory per acreage,

YHYS

YHDD

405.558.1295 * www.nrgsafe.com * sales@nrgsafe.com
FEBRUARY 2019 33


http://www.api.org http://www.nrgsafe.com

American Oil and Gas Reporter - February 2019

Table of Contents for the Digital Edition of American Oil and Gas Reporter - February 2019

Contents
American Oil and Gas Reporter - February 2019 - Intro
American Oil and Gas Reporter - February 2019 - 1
American Oil and Gas Reporter - February 2019 - 2
American Oil and Gas Reporter - February 2019 - Contents
American Oil and Gas Reporter - February 2019 - 4
American Oil and Gas Reporter - February 2019 - 5
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https://www.nxtbook.com/nxtbooks/aogr/202403
https://www.nxtbook.com/nxtbooks/aogr/202402
https://www.nxtbook.com/nxtbooks/aogr/202401
https://www.nxtbook.com/nxtbooks/aogr/202312
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https://www.nxtbook.com/nxtbooks/aogr/202202
https://www.nxtbook.com/nxtbooks/aogr/202201
https://www.nxtbook.com/nxtbooks/aogr/202112
https://www.nxtbook.com/nxtbooks/aogr/202111
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https://www.nxtbook.com/nxtbooks/aogr/202109
https://www.nxtbook.com/nxtbooks/aogr/202108
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https://www.nxtbook.com/nxtbooks/aogr/202104
https://www.nxtbook.com/nxtbooks/aogr/202103
https://www.nxtbook.com/nxtbooks/aogr/202102
https://www.nxtbook.com/nxtbooks/aogr/202101
https://www.nxtbook.com/nxtbooks/aogr/202012
https://www.nxtbook.com/nxtbooks/aogr/202011
https://www.nxtbook.com/nxtbooks/aogr/202010
https://www.nxtbook.com/nxtbooks/aogr/202009
https://www.nxtbook.com/nxtbooks/aogr/202008
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https://www.nxtbook.com/nxtbooks/aogr/202006
https://www.nxtbook.com/nxtbooks/aogr/202005
https://www.nxtbook.com/nxtbooks/aogr/202004
https://www.nxtbook.com/nxtbooks/aogr/202003
https://www.nxtbook.com/nxtbooks/aogr/202002
https://www.nxtbook.com/nxtbooks/aogr/202001
https://www.nxtbook.com/nxtbooks/aogr/201912
https://www.nxtbook.com/nxtbooks/aogr/201911
https://www.nxtbook.com/nxtbooks/aogr/201910
https://www.nxtbook.com/nxtbooks/aogr/201909
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https://www.nxtbook.com/nxtbooks/aogr/201903
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https://www.nxtbook.com/nxtbooks/aogr/201901
https://www.nxtbook.com/nxtbooks/aogr/201812
https://www.nxtbook.com/nxtbooks/aogr/201811
https://www.nxtbook.com/nxtbooks/aogr/201810
https://www.nxtbook.com/nxtbooks/aogr/pbios_201810
https://www.nxtbook.com/nxtbooks/aogr/201809
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https://www.nxtbook.com/nxtbooks/aogr/201801
https://www.nxtbook.com/nxtbooks/aogr/201712
https://www.nxtbook.com/nxtbooks/aogr/201711
https://www.nxtbook.com/nxtbooks/aogr/201710
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https://www.nxtbook.com/nxtbooks/aogr/pbios2016_programguide
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https://www.nxtbook.com/nxtbooks/aogr/201512
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https://www.nxtbook.com/nxtbooks/aogr/201501
https://www.nxtbook.com/nxtbooks/aogr/201412
https://www.nxtbook.com/nxtbooks/aogr/201411
https://www.nxtbook.com/nxtbooks/aogr/201410
https://www.nxtbook.com/nxtbooks/aogr/201409
https://www.nxtbook.com/nxtbooks/aogr/pbios2014_programguide
https://www.nxtbook.com/nxtbooks/aogr/201408
https://www.nxtbook.com/nxtbooks/aogr/201407
https://www.nxtbook.com/nxtbooks/aogr/201406
https://www.nxtbook.com/nxtbooks/aogr/201405
https://www.nxtbook.com/nxtbooks/aogr/201404
https://www.nxtbook.com/nxtbooks/aogr/201403
https://www.nxtbook.com/nxtbooks/aogr/201402
https://www.nxtbook.com/nxtbooks/aogr/201401
https://www.nxtbook.com/nxtbooks/aogr/201312
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https://www.nxtbook.com/nxtbooks/aogr/201303
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https://www.nxtbook.com/nxtbooks/aogr/201301
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https://www.nxtbook.com/nxtbooks/aogr/201208
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