Overall, the oil and gas market improved and grew in 2018 with some price volatility in Q4. The price fluctuation is expected to continue in 2019 due to uncertainty with OPEC’s latest mandate to cut production and a slowing global demand for crude products. According to the Energy Information Agency, the U.S. is now the largest crude oil producer in the world. In February, crude production exceeded that of Saudi Arabia for the first time in more than two decades. In June and August, the U.S. surpassed Russia for the first time since 1999. This past August, the U.S. produced over 11 million barrels per day and we’re expected to exceed Russia and Saudi Arabia through 2019. Shale plays around the country are driving crude oil production. Much of the growth is from the Permian Basin in Texas and New Mexico and the Bakken in North Dakota and Montana. There has been an increase in drilling activity in the deepwater Gulf of Mexico, after declining significantly from the oil price drop in 2014-2015. Despite oil price fluctuations and geopolitical concerns, the U.S. oil and gas industry is thriving. Innovative technology and cutting edge software designed to help improve personnel, production and product performance is a key factor for future growth. At OILMAN we’re also eager to see what’s new in blockchain technology, machine learning and artificial intelligence as they continue to open up new frontiers in the industry. The resilience, ingenuity and drive of all involved in the oil and gas value chain is remarkable and we look forward to sharing in every OILMAN issue what the industry has to offer in 2019.
The CEO of U.S. Energy Media, Emmanuel Sullivan is a technical writer who has built up his profile in the oil and gas industry. He lives and works in Houston, where he publishes Oilman and Oilwoman on a bimonthly basis, and Energies quarterly, distributing the magazine to energy thought leaders and professionals throughout the United States and around the world. At a time when technology is rapidly changing, he provides an invaluable service to oil & gas, and renewable energy executives, engineers, and managers, offering them both broad and specific looks at the topics that affect their livelihoods. Sullivan earned his BA in Communications at Thomas Edison State University and his MA in Professional Writing at Chatham University.
- Emmanuel Sullivanhttps://energiesmedia.com/author/emmanuel-sullivan/
- Emmanuel Sullivanhttps://energiesmedia.com/author/emmanuel-sullivan/
- Emmanuel Sullivanhttps://energiesmedia.com/author/emmanuel-sullivan/
- Emmanuel Sullivanhttps://energiesmedia.com/author/emmanuel-sullivan/
- Emmanuel Sullivanhttps://energiesmedia.com/author/emmanuel-sullivan/
- Emmanuel Sullivanhttps://energiesmedia.com/author/emmanuel-sullivan/
Oil and gas operations are commonly found in remote locations far from company headquarters. Now, it's possible to monitor pump operations, collate and analyze seismic data, and track employees around the world from almost anywhere. Whether employees are in the office or in the field, the internet and related applications enable a greater multidirectional flow of information – and control – than ever before.