Analysis o of Produced a and Imported Crude O Oil in California - - PowerPoint PPT Presentation

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Analysis o of Produced a and Imported Crude O Oil in California - - PowerPoint PPT Presentation

Analysis o of Produced a and Imported Crude O Oil in California California Department of Conservation, Division of Oil, Gas, and Geothermal Resources Jason Marshall, Chief Deputy Director, Department of Conservation Bill Bartling, Chief


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Analysis o

  • f Produced a

and Imported Crude O Oil in California

California Department of Conservation, Division of Oil, Gas, and Geothermal Resources

Jason Marshall, Chief Deputy Director, Department of Conservation Bill Bartling, Chief Deputy Director, Division of Oil, Gas, And Geothermal Resources August 2018

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20 40 60 80 100 120 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 1981 1986 1991 1996 2001 2006 2011 2016

Oil Price thousands of barrels Total Oil California Production Oil Price

Production and Price

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  • 10%
  • 8%
  • 6%
  • 4%
  • 2%

0% 2% 4% 6% 8% 10% 1980 1985 1990 1995 2000 2005 2010 2015 2020 % change year on year

Total Oil Calfornia Production

% Change

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$0.00 $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 $70.00 $80.00 $90.00 $100.00 200,000 400,000 600,000 800,000 1,000,000 1,200,000 1,400,000 2012 2013 2014 2015 2016 2017 $ PER BARREL 1000’S OF BBLS PER YEAR

Selected US Production By Year and Price

Texas

  • N. Dakota

Alaska California

  • N. Mexico

Oklahoma Price

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US Performance Measures

PRAC = Proved Reserve Acquisition Cost FDC = Finding and Development Costs RRC = Reserve Replacement Cost Revisions = restating of booked reserves due to low oil prices

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  • 5,000,000

10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 40,000,000

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

BARRELS PER YEAR

California Production by Field by Year

Aliso Canyon Ant Hill Antelope Hills Antelope Hills, North Arroyo Grande Asphalto Bandini Bardsdale Barham Ranch Beer Nose Belgian Anticline Bellevue Bellevue, West Belmont Offshore Belridge, North Belridge, South Beverly Hills Big Mountain Blackwells Corner Brea-Olinda Buena Vista Burrel Cabrillo Canal Canfield Ranch Carneros Creek Cascade Casmalia Castaic Hills Cat Canyon Cheviot Hills Chico-Martinez Cienaga Canyon Coalinga Coles Levee, North Coles Levee, South Comanche Point Coyote, East Cuyama, South Cymric Deer Creek Del Valle Devils Den Edison El Segundo Elk Hills Elwood, South, Offshore Fruitvale Greeley Hasley Canyon Helm Holser Honor Rancho Huntington Beach Hyperion Inglewood Jacalitos Jasmin Kern Front Kern River Kettleman Middle Dome Kettleman North Dome Landslide Las Cienegas Livermore Lompoc Long Beach Long Beach Airport Los Angeles Downtown Los Angeles, East Lost Hills Lost Hills, Northwest Lynch Canyon Mahala McCool Ranch McDonald Anticline McKittrick Midway-Sunset Montalvo, West Montebello Monument Junction Mount Poso Mountain View Newhall-Potrero Newport, West Oak Canyon Oak Park Oakridge Oat Mountain Ojai Olive Orcutt Oxnard Paloma Placerita Playa Del Rey Pleito Poso Creek Pyramid Hills Railroad Gap Raisin City Ramona Richfield Rincon Rio Bravo Rio Viejo Riverdale Rose Rosecrans Rosecrans, South Rosedale Rosedale Ranch Round Mountain Russell Ranch Salt Lake Salt Lake, South San Ardo San Miguelito San Vicente Sansinena Santa Clara Avenue Santa Fe Springs Santa Maria Valley Santa Susana Sargent Saticoy Sawtelle Seal Beach Semitropic Sespe Shafter, North Shiells Canyon South Mountain Stockdale Tapia Tapo Canyon, South Tejon Tejon Hills Tejon, North Temescal Ten Section Timber Canyon Torrance Torrey Canyon Union Avenue Ventura Wayside Canyon West Mountain Wheeler Ridge White Wolf Whittier Wilmington Yowlumne Zaca

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Permitting Trends

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20 40 60 80 100 120 140

500 1000 1500 2000 2500 3000 3500 4000 4500 5000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 CA Crude Oil Price ($/Barrel) Wells Noticed, Permitted and Drilled Year Total NOI (Requests to Drill) Drilling Permits Issued Wells Drilled Price of Oil

Relationship of:

  • Permits Requested

Permits Issued

  • Wells Drilled
  • Price of Oil

Permitting and Price

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92 623 849 672 745 147 160 41

$0 $20 $40 $60 $80 $100 $120 100 200 300 400 500 600 700 800 900

2011* 2012* 2013* 2014** 2015** 2016 2017 2018 (1st Qtr.)

Price of CA Crude Oil Number of Treatments Year

Well Stim. Treatments Price of Oil

* Statistics from FracFocus. ** Statistics from interim reporting period.

Well Stimulation and Price

Well Stimulation =

  • Hydraulic

Fracturing

  • Acid Matrix

Stimulation

  • Acid Fracturing
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Permitting And Oil Operations Locations

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Notices Received 2008 - 2018

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Permits Issued 2008 - 2018

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Recent Regulatory Actions

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  • Well Stimulation
  • Gas Storage Facility
  • Underground Injection Control (in progress)
  • Idle Well Regulations (in progress)
  • Safe Drinking Water Act/Aquifer Exemptions (in progress)
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Summary

  • Declining production in-state
  • Historically price increases have not driven CA

production up

  • Permits to maintain declining production likely to

continue in existing fields

  • Regulatory modernization is ongoing