The Gulf of Mexico (GOM) is playing a vital role in maintaining oil and natural gas production levels in the United States, despite expected declines in 2024 and 2025.
According to recent forecasts to EIA, oil production in the region will reach 1.8 million barrels per day (b/d) in 2024 and increase to 1.9 million b/d in 2025, helping to stabilize the market.
These volumes represent about 14% of U.S. oil production.
New field developments to offset declines
New field developments are critical to offsetting natural declines in existing production.
A total of 12 new fields are expected to come online by 2025, seven of which will involve subsea tie-ins to existing Floating Production Units (FPUs), ensuring efficient use of current infrastructure.
These fields will add significant capacity, with production from new operations in 2025 expected to average 231,000 b/d.
Stable natural gas production amid lower output
Natural gas production, though lower than in previous years, will remain stable at 1.8 billion cubic feet per day (Bcf/d) through 2025, making up 2% of U.S. natural gas output.
Without these new developments, production in the GOM would face more significant declines, emphasizing the importance of these fields in maintaining energy stability.
Rig Count in USA
Currently, in the United States, there are a total of 590 active wells as of September 13, a decrease of 51 wells compared to the previous year, according to Baker Hughes.
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