Crude Awakenings: Barrels Bow Out, Pumps Punch Up

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Daily Data Dump

The good, the bad, and the ugly of Texas oil production.

Best of the Best 🏆️

Every week, we sift through our proprietary data to find the best performers in Texas.

Never Quit 😢

Similarly, we find the oil producers who need a little help (i.e. call Barrel Hub).

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Daily Bulletin

Lone Star Stories

• Energy Tango: Groups Jive Against Biden’s Lease Beat

Fourteen U.S. energy groups are opposing a new rule proposed by the Bureau of Land Management (BLM), asserting that it overextends its authority and could be detrimental to U.S. energy security and the economy.

• Crude Awakenings: Barrels Bow Out, Pumps Punch Up

U.S. crude oil inventories experienced a significant decline last week, plummeting by over 2 million barrels and reaching their lowest point since 1985, causing a spike in crude prices, with West Texas Intermediate crude surging over 3% to just under $94 per barrel.

Reader Question of the Day

How are data science and machine learning used to optimize reservoir simulation models?

Data science and machine learning in reservoir simulation are like the smart friends who help solve tricky puzzles. They sift through heaps of data, spotting patterns and trends that humans might miss. By analyzing this information, they help create more accurate models of oil reservoirs, showing where the oil is and how it behaves. It’s like having a super-smart guide in a maze, helping to find the best route quickly.

Using these smart tools, oil companies can make better decisions about where to drill and how to extract oil more efficiently. It means less guessing and more knowing, saving time and resources. In the end, it’s about getting the most out of each reservoir while being smart and efficient, making sure no opportunity is missed.

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