If you muddle thru this oilprice.com piece you'll read that most of this "soaring production" from Big Oil is in the US, has to do with shale oil, longer laterals, greater efficiencies, AI, proppants and all the same 'ol dung heap we've been hearing for three years now. Nothing is soaring in the Bakken, DJ or the Eagle Ford so let's look quickly at the Permian.
Exxon:
Oxy:
Chevron:
Conoco:
BP, Total, nope, nothing "soaring" there either. NOTHING is soaring in the Permian even on a 20:1 BOE basis.
New Mexico is not poopin' out as fast as Texas but it's close. I showed you 25.5% decline rates in well productivity there since 2021. When Eddy and Lea roll over, exhausted, people are going to have an absolute cow. I can hear it now, we exported how much Permian oil since 2016?!! Your kidding, right?!!
Seems optimistic, but quite plausible. People will have a cow when it rolls over next year. In the 2030s, 4.6 million b/d is taken off the market. Probably the Bakken and Eagle Ford are in no better shape. Thank you for this graph. It is very informative.