According to numbers from the U.S. Energy Information Administration, U.S. oil production was roughly 5 million barrels a day in 2008. By 2015, that number had nearly doubled, reaching 9.4 million barrels a day.
Considering the time it takes to access land, create an oilfield and actually bring resources from the ground, this is an impressive jump. But where did this increase come from?
When most Americans think of the modern domestic oil boom in our country, they often think of the North Dakota. This state has become one of the leaders in domestic oil production, creating over 429 million barrels in 2015, an increase from about 30 million a year in the yearly 2000s.
But as you’ll see, beyond North Dakota there are several states that have contributed to our increased oil production.
Note: Cited numbers are 2016 stats from the U.S. Department of Energy Information.
Beyond North Dakota, which gets a lot of attention due to recent industry booms, there are a handful of states that produce over a billion barrels. The Lone Star State is still the big dog in oil production. In 2016 alone, the land that brought us the show Dallas and an NFL franchise known as the “Oilers” produced a whopping 1.17 billion barrels of oil. That’s roughly a third of America’s total oil production, so if it weren’t for Texas, there wouldn’t be as big an energy boom in the country.
For those living outside the area, it might be surprising to learn that California is an oil state- maybe California and Texas have more in common than we thought. However, while many of the top producers have increased production, California production has essentially remained steady over the last decade.
Alaska is so big that it’s actually organized into two regions. The “South Slope” only produces about 5.6 million barrels a year, but the “North Slope” brings in 173 million.
Like Texas, Oklahoma has a long reputation as a major oil state. Although Oklahoma produces a fraction of the amount as Texas (like all states), it still has a history and a culture shaped by the production of crude oil.
Field production from New Mexico was steady throughout the 1980s and ’90s, but rose sharply from about 2009 to 2016, more than doubling its numbers in less than a decade. It’s now one of the few states to produce over 100 million barrels a year.
Colorado certainly doesn’t have the reputation as an oil state, but between 2001 and 2015, annual production rose by about 110 million barrels. This makes it a strong contributor to America’s energy production increase.
Although the rise hasn’t been as sharp, Wyoming has increased production and added to our nation’s energy production. Like many of the top producers, they had low numbers around 2005, but steadily increased production over the following decade.
Although Louisiana’s annual production has steadily declined since 1981, it has never dropped below 50 million barrels, producing about 200 million a year in the early 1980s. Field production leveled off starting around 2005, which gave the country another base for overall sustained growth.
Although Kansas’ production has remained steady throughout the years, they have been a strong contributor, bringing in about 35 to 50 million barrels a year on a regular basis. And although Kansas is primarily a prairie state with a major agricultural area, it remains one of the top states for oilfield production.
As oil companies look beyond North Dakota for business opportunities, they know that no matter what state they operate in, oilfield production is a serious challenge. It takes time to secure land, create an oilfield, and turn a profit. When your oilfield services company is in need of consistent cash flow and expertise that TCI Business Capital has in oilfield factoring, give us a call at (800) 707-4845.
With our oilfield factoring services, we can ensure you stay in production from start to finish.