United States Oil & Gas Report

Published 19 March 2015

  • 220 pages
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  • Includes 3 free updated quarterly reports
 
$1,295.00
United States Oil & Gas Report

BMI View: The US will continue to lead gains in non-OPEC crude oil production in the coming years. We forecast crude oil and NGLs production will rise from an estimated 12. 4 b/d in 2014 to 1 5.0 mn b/d by 2023. High growth rates seen in recent years will moderate through our 10-year forecast period , reflecting abrupt depletion rates in shale oil fields, a glut in the domestic market for light sweet crude , and lower oil prices dampening some production . Consumption for fuels will be largely stagnant throughout the course of the next decade as energy efficiency gains take root. On the gas market, we forecast a ramp - up in production when demand gears up from 2017 onwards as new LNG and pet ro chem ical plants and export facilities come online.

Headline Forecasts (United States 2012-2018)
2012 2013 2014f 2015f 2016f 2017f 2018f
Crude, NGPL & other liquids prod, 000b/d 10,059.4 11,255.8 12,409.2 12,971.9 13,404.4 13,727.2 14,007.7
Refined products production & ethanol, 000b/d 18,564.0 19,121.0 19,334.0 19,519.9 19,728.3 19,898.6 20,057.3
Refined products consumption & ethanol, 000b/d 19,349.9 19,816.1 20,038.8 20,238.3 20,467.0 20,677.4 20,806.0
Dry natural gas production, bcm 681.1 687.4 718.4 739.9 773.2 811.9 860.6
Dry natural gas consumption, bcm 722.8 737.1 744.5 751.9 770.7 790.0 809.7
e/f = BMI estimate/forecast. Source: EIA, BMI

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  • Falling oil prices, especially on the WTI contract, over recent months are beginning to create pressures on the fringes of oil production in the US. Our research suggests the majority of shale oil growth will remain profitable above USD80/bbl, with more developed 'sweet spot' acreage profitable at rates as low as USD55/bbl. With prices now trading around USD60/bbl, more marginal areas within some of the plays, where oil recovery...

Table of Contents

BMI Industry View
7
Table: Headline Forecasts (United States 2012-2018)
7
SWOT
9
Oil & Gas SWOT
9
Industry Forecast
11
Upstream Exploration
11
Table: Proven Oil and Gas Reserves (United States 2012-2017)
11
Table: Proven Oil and Gas Reserves (United States 2018-2023)
11
Upstream Projects
15
Table: United States - Major Upstream Projects
15
Upstream Production - Oil
25
Table: Oil Production (United States 2012-2017)
25
Table: Oil Production (United States 2018-2023)
26
Upstream Production - Gas
35
Table: Gas Production (United States 2012-2017)
35
Table: Gas Production (United States 2018-2023)
35
Refining
39
Table: Refining Capacity and Refined Products Production (United States 2012-2017)
39
Table: Refining Capacity and Refined Products Production (United States 2018-2023)
39
Refined Fuels Consumption
42
Table: Refined Products Consumption* (United States 2012-2017)
42
Table: Refined Products Consumption* (United States 2018-2023)
42
Gas Consumption
48
Table: Gas Consumption (United States 2012-2017)
48
Table: Gas Consumption (United States 2018-2023)
48
Trade - Oil
51
Table: Crude Oil Net Exports (United States 2012-2017)
51
Table: Crude Oil Net Exports (United States 2018-2023)
51
Table: Refined Fuels Net Exports (United States 2012-2017)
52
Table: Refined Fuels Net Exports (United States 2018-2023)
53
Table: Total Net Oil Exports - Crude and Products (United States 2012-2017)
54
Table: Total Net Oil Exports - Crude and Products (United States 2018-2023)
55
Trade - Gas (Pipeline and LNG)
56
Table: Gas Net Exports (United States 2012-2017)
56
Table: Gas Net Exports (United States 2018-2023)
56
Industry Risk Reward Ratings
61
North America And Western Europe - Risk/Reward Ratings
61
Table: North America & Western Europe States Oil & Gas Risk/Reward Ratings
62
Upstream: US Nearly On Par With Canada
62
Table: Oil & Gas Upstream Risk/Reward Ratings
62
Western Europe Languishes Without Shale Outlook
65
Downstream: US Comes Out Tops
67
Table: Oil & Gas Downstream Risk/Reward Ratings
67
Unites States - Risk/Reward Index
71
Market Overview
72
United States Energy Market Overview
72
Licensing And Regulation
72
Government Policy
75
Licensing Rounds
80
Table: Total BOEM Acreage To Be Offered 2012-2017
80
Table: 2012-2017 Lease Sale Schedule
81
International Energy Relations
83
Table: Key Upstream Players
84
Oil And Gas Infrastructure
89
Oil Refineries
89
Table: New US Refineries
90
Table: 2014 Refinery Expansions
93
Table: Refineries In the US
94
Service Stations
100
Oil Storage Facilities
100
Oil Terminals/Ports
100
Oil Pipelines
101
Table: Crude Oil Pipelines Recently Online/Planned For The US, 2012-2014
102
LNG Terminals
105
Table: LNG Terminals In the US
105
Table: US LNG Export Terminal Projects
110
Gas Storage Facilities
111
Gas Pipelines
111
Table: New Natural Gas Pipelines Planned
113
Competitive Landscape
117
Competitive Landscape Summary
117
Table: Key Upstream Players
119
Table: Key Downstream Players
119
Company Profile
120
ExxonMobil
120
Chevron
128
BP America
136
ConocoPhillips
143
Anadarko
148
Shell USA
153
Other Summaries
160
Regional Overview
174
Industry News
174
Global Industry Overview
183
Global Energy Market Overview
183
Appendix
189
Global - Crude Oil, Refined Fuels And Natural Gas Prices, 10-year Forecasts
189
Table: Energy Price Forecasts, 2012-2017
189
Table: Energy Price Forecasts, 2018-2023
190
North America Regional Appendix
192
Table: Oil Consumption - Historical Data & Forecasts, 2011-2018 ('000b/d)
192
Table: Oil Consumption - Long-Term Forecasts, 2015-2023 ('000b/d)
192
Table: Oil Production - Historical Data & Forecasts, 2011-2018 ('000b/d)
193
Table: Oil Production - Long-Term Forecasts, 2015-2023 ('000b/d)
193
Table: Refining Capacity - Historical Data & Forecasts, 2011-2018 ('000b/d)
193
Table: Refining Capacity - Long-Term Forecasts, 2015-2023 ('000b/d)
194
Table: Gas Consumption - Historical Data & Forecasts, 2011-2018 (bcm)
194
Table: Gas Consumption - Long-Term Forecasts, 2015-2023 (bcm)
194
Table: Gas Production - Historical Data & Forecasts, 2011-2018 (bcm)
195
Table: Gas Production - Long-Term Forecasts, 2015-2023 (bcm)
195
Table: LNG Exports - Historical Data & Forecasts, 2011-2018 (bcm)
195
Table: LNG Exports - Long-Term Forecasts, 2015-2023 (bcm)
196
United States - Refined Products Breakdown, 10-Year Forecasts
197
Table: Refined Petroleum Products, Production Breakdown (United States 2012-2017)
197
Table: Refined Petroleum Products, Production Breakdown (United States 2018-2023)
198
Table: Refined Petroleum Products, Consumption Breakdown (United States 2012-2017)
199
Table: Refined Petroleum Products, Consumption Breakdown (United States 2018-2023)
200
Table: Refined Petroleum Products, Net Exports Breakdown (United States 2012-2017)
201
Table: Refined Petroleum Products, Net Exports Breakdown (United States 2018-2023)
202
Table: LPG Production, Consumption And Net Exports (United States 2012-2017)
203
Table: LPG Production, Consumption And Net Exports (United States 2018-2023)
203
United States - Total Hydrocarbons, 10-Year Forecasts
204
Table: Total Hydrocarbons Production, Consumption And Net Exports (United States 2012-2017)
204
Table: Total Hydrocarbons Production, Consumption And Net Exports (United States 2018-2023)
204
Glossary
206
Table: Glossary Of Terms
206
Methodology
208
Industry Forecast Methodology
208
Source
210
Risk/Reward Ratings Methodology
210
Table: Bmi's Oil & Gas Upstream Risk/Reward Ratings
212
Table: Weighting
213

The United States Oil & Gas Report has been researched at source and features BMI Research's independent forecasts for United States including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's United States Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the American oil and gas industry.

Key Benefits

  • Benchmark BMI's independent oil and gas industry forecasts for United States to test consensus views - a key input for successful budgeting and strategic business planning in the American oil and gas market.
  • Target business opportunities and risks in the American oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in United States.
  • Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.

Coverage

BMI Industry View

Summary of BMI’s key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the upstream and downstream sectors and within the broader political, economic and business environment.

BMI Industry Forecasts

Historic data series and forecasts to end-2024 for all key industry indicators, supported by explicit assumptions, plus analysis of key downside risks to the main forecast:

  • Pricing: Oil price (USD/bbl, WTI, Brent, OPEC basket, Urals); oil products prices (unleaded gasoline, gasoil/diesel, jet/kerosene – USD/bbl) at global hubs.
  • Production, Consumption, Capacity & Reserves: Proven oil reserves (bn barrels), production, consumption, refinery capacity and throughputs (‘000b/d); proven gas reserves (tcm), production and consumption (bcm) and fuels trade.
  • Imports & Exports: Crude oil exports/imports (‘000s b/d) and value of crude oil trade in USD. Fuels exports/imports (‘000s b/d) and value of fuels trade in USD. Natural gas imports/exports (bcm), by pipeline and/or LNG, and value of natural gas trade.

BMI’s Oil & Gas Risk Reward Index

BMI’s Risk Reward Indices provide investors (independents, NOCs, IOCs, oil services companies) looking for opportunities in the region with a clear country-comparative assessment of the upstream and downstream market’s risks and potential rewards. Each of the country markets are scored using a sophisticated model that includes more than 40 industry, economic and demographic data points to provide indices of highest to lowest appeal to investors, with each position explained.

Market Overview

A profile of the upstream and downstream sectors, including analysis of reserves, output, consumption and trade of energy products; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.

Competitive landscape

Comparative company analyses by USD sales, % share of total sales, number of employees, year established, ownership structure, oil production (‘000b/d), gas production (bcm), downstream capacity (‘000b/d) and % market share.

Company Profiles*

Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI’s industry forecasts, our macroeconomic views and our understanding of the wider competitive landscape to generate Company SWOT analyses. The latest financial and operating statistics and key company developments are also incorporated within the company profiles, enabling a full evaluation of recent company performance and future growth prospects.

Regional Overview

Regional perspective on size and value of the industry. Plus comparative rankings by production, refining, imports and exports of oil, gas and LNG.

Global Oil Market & Oil Products Outlook

Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2024 for oil, gas and oil products.

Sources

The Oil & gas Reports draw on an extensive network of primary sources, such as multilateral organisations, government departments, industry associations, chambers and company reports.

*Company profiles are not available for every country. Those reports instead contain information on the current activities of prominent companies operating in the market.

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Testimonials

'An essential, multi-faceted research tool. BMI’s thorough understanding of the major market players enables an informed – and informative – review of the sector’s actual performance, together with useful insights into current industry issues, which are topped-off with detailed and invaluable forecasts of industry and macroeconomic trends.’

Senior Research Analyst, ABC International Bank plc