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Last updateFri, 03 Apr 2020 8pm

End-User News

Texas Oil Production to Grow at Slower Pace in 2020

Texas’ oil production rose to an estimated 5.4 million barrels per day (bpd) in December, a Rystad Energy analysis shows, and is expected to rise almost every month this year due to sufficient statewide fracking activity levels, but the growth’s pace is seen slowing ahead.

The pace of growth is set to decelerate naturally in the next few months amid a new phase of steepening in base decline. Further activity increases or an upward shift in average well productivity would be needed to achieve material growth in 1Q20. Both events are seen as unlikely in the current environment, but the present activity remains above the balancing point needed to maintain production.

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