Looks like Tejas will break the crude production this year.
But jobs are still in wait. Many jobs lost, more cuts ahead.
Texas Oil/Gas Industry Barometer Falling; Job Losses Climbing | 2015-03-13 | Natural Gas Intelligence
More being done with less? Its not that simple. Once a well is completed, the pumping of crude is pretty straight forward. The work to create the play is where manpower and expertise comes in. We are now in the position for the O&G industry where efficiency has a new day. Some site improved fracking technology as a reason, while others suggest it is far more complicated.
So, there is more product being produced with less workers. The answer can be found when you compare new completion productivity vs existing draw. Good luck trying to decipher those stats!
The up side for the US and Tejas is that energy prices should decline and if we get the nod to export to others our trade balance improves in our favor. Also our manufacturing sector will increase as well - takes power to turn gears. Reduce the kW/hr increases profitability by way of reducing the large 'fixed' cost of energy.
Invest wisely lads...there can be money to be made.
Data to explore:
EIA
Crude Oil Production
Texas RRC - Texas Monthly Oil & Gas Production
EIA Short-Term Energy Outlook + Texas - Peak Oil BarrelPeak Oil Barrel