Texas oil production to to exceed 5.6mb/d in 2024


*Crude oil processing facility.

– To break all-time records

Lagos — According to data from the US Energy Information Administration, December saw the all-time production record in the USA surpassed with more than 13.3 million barrels per day, a figure that, according to forecasts, will be widely surpassed in both 2024 and 2025.

Texas is already the largest oil producer in the USA with 42% of the total and employs more than 480,000 Texans. The sector already contributes more than $26.3 billion in state and local taxes to the national economy, an increase of $1.5 billion more than in 2022.

Aware of the energy sector needs in general and the Oil & Gas sector in particular, Sarens USA has opened a new branch in Beaumont (Texas), to offer an almost immediate response to any customer requiring crane rentals, heavy lifting, transportation and engineering support services in the region.

Crude oil production in Texas will again set historical records in February, exceeding 5.6 million barrels per day, in what will be a continuation of the upward trend shown since December, and which will extend into both 2024 and 2025, according to forecasts by the Texas Oil & Gas Association.

This upward trend in Texas confirms national forecasts. Thus, according to the US Energy Information Administration (EIA), oil production will resume growth in February, exceeding 13.3 million barrels per day, a figure that will remain stable until February 2025, when the daily production record is expected to be exceeded once again.

In a context in which the general increase in crude oil production will continue to grow, increasing the stress on infrastructures, Sarens, world leader in heavy lifting, engineered transport and crane rental services, recalls the importance of continuing to invest in the maintenance of processing and extraction plants already in operation, increasing predictive operations and reducing the time needed for corrective tasks when necessary, in order to maintain stable production.

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As a result of its commitment to the oil & gas industry in Texas, Sarens has opened a new branch in Beaumont, from where it will offer a much closer contact with the companies and institutions that require its specialized services to be able to face their projects of installation and maintenance of oil & gas extraction and processing infrastructures with the due guarantees. In this new branch, Sarens will have an advanced fleet of large crawler cranes, mobile cranes and SPMTs (Self-Propelled Modular Transports) to meet any possible need of its customers.

Maintaining stable production will be key to the Texas economy, as it already accounts for 42% of all crude oil production in the country. According to data from the Texas Oil&Gas Association, this sector employs more than 480,000 people in the state, and contributes more than $26.3 billion in state and local taxes to the US economy, an increase of $1.5 billion more than in 2022. Excessive downtime at any of the oil extraction or processing plants could therefore have significant consequences for both employment and the state and national economy.

Sarens has already been involved in several projects aimed at strengthening the oil sector in the U.S. One example is the construction and modernization work at the Corpus Christi refinery in Texas, where Sarens used several of its larger capacity cranes, such as the 385 tonne Liebherr LR1350S crawler cranes transported from Australia, to lift and position two reactors and 58 modules.



This article was originally posted at sweetcrudereports.com

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