The United States has had organic growth in oil production in the past few years which has exponentially increased our exports. In 2018, U.S. exports grew 70 percent which equates to over 2 million barrels of oil a day. This daily export number is expected to grow due to the country’s resourceful land, especially in the Permian Basin, and continued investment.Next Few Years Growth Forecast The U.S. Energy Secretary, Rick Perry, stated during a keynote at CERA week, “This is a new American energy era.” Industry leaders predict the U.S. daily exports will rise to 5 million barrels a day – a 70% increase from current levels. If the prediction deems true, the U.S. will surpass every country in OPEC in crude exports – considering there are variables that will tip Saudi Arabia from the top spot. The U.S. already has substantial export volume in refined products such as gasoline and diesel. The addition of crude exports, the IEA projects U.S. combined petroleum exports to reach 9 million barrels/day in the next five years compared to 1 million in 2012.Newfound Shale & Crude The Permian Basin has been producing vast amounts of crude and shale oil, and new pipelines are expected to open mid-2019. There has also been technological innovation and an increase in buyers for shale oil. The next three to five years will surely be monumental for the U.S. in terms of exports and growth.
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Chase Energy Services
Chase Energy Services is one of the largest privately held integrated oilfield services company in the US, providing end-to-end oilfield services through an experienced management team, innovative technologies and an unrelenting focus on safety. With more than 500 employees, the company serves customers across Southeast New Mexico and West Texas in frac and acidizing, well construction and completion, cementing solutions and well servicing. Learn.More
Chase Energy Services, Inc.11344 Lovington HWYArtesia, NM 88210(575) 748-1288
