has it bottomed?, page-19

long term this is the view from the U.S. Energy Information Administration's (EIA) Annual Energy Outlook 2012


Tight Oil Production to Boost Future U.S. Oil Production
by Karen Boman
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Rigzone Staff
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Tuesday, June 26, 2012

Tight Oil Production to Boost Future U.S. Oil Production

Tight oil resources, mostly from the Bakken and Eagle Ford plays, will fuel most of the growth in Lower 48 onshore crude oil production in the United States through 2035, according to the U.S. Energy Information Administration's (EIA) Annual Energy Outlook 2012.

Tight oil production is expected to rise past 1.3 million barrels of oil per day (bopd) in 2027 before declining to about 1.2 million bopd in 2035 as "sweet spots" are depleted, EIA reported on June 25.

Besides the Bakken and Eagle Ford, EIA's assessment also included the Austin Chalk, Avalon/Bone Springs, Monterey, Niobrara, Spraberry and Woodford formations.

"Additional tight oil resources are likely to be identified in the future as more work is completed to identify currently producing reservoirs that may be better categorized as tight formations, and as new tight oil plays are identified and incorporated," EIA said in a statement.

Production from tight oil plays in the United States and production using enhanced oil recovery will add to the projected increase in U.S. crude oil production from 2010 through 2035, EIA reported.


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