The Federal Reserve Bank of Dallas reported that wages in the Permian Basin fell for the second quarter in a row after spiking in first quarter 2017. The rig count and crude oil production rose in January, the Fed said. Wages Average weekly wages fell 0.3% in the Permian Basin, while wages fell by almost 1% statewide between second quarter
North Dakota production set new records in 2017 even though the rig count has gone down. At least 1.18 million BOPD was produced in October and November. North Dakota gas production hit new highs in November as well – over two million Mcf/day. Keep the oil barrels rolling Oil production in October reached 36,698,095 barrels in total, or 1,183,810 BOPD
Canada produced 20.0 million cubic meters (125.6 million barrels) of crude oil and equivalent products in September 2017, up 3.8% from the same month a year earlier. Canada’s statistics arm said the increase was largely attributable to an 11.8% rise in non-upgraded production of crude bitumen, which was offset by declines in synthetic crude (-5.3%) and in light and medium
GDP growth rates historically have been tied to electricity usage due to population growth and the need to generate more goods and services to serve the growing populations, but traditional metrics are changing. This relationship between energy usage and economic growth has changed in recent times for several reasons, according to a new study by the EIA. The EIA said
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