Cinco Energy's Top 5 Monthly Metrics - August 2023

Cinco Energy's Top 5 Monthly Metrics - August 2023

What were the most interesting data points in the energy industry last month?

Find out in our latest edition of CINCO's Monthly Metrics.

Oil production forecast for second half of 2023

10.6: The average monthly production (in MMB/D) forecasted in the L48 in the second half of this year. 

Permain Resource Corp acquisition of Permian Basic acreage

223,000: The Permian Basin net acres that Permian Resources Corp. will acquire from Earthstone Energy in a transaction valued at approximately $4.5 billion.

Increase in US power generated by natural gas

40.4%: The share of US power generated by natural gas YTD, up from 36% in the same period last year.

US Oil rig count in August 2023

632: The US rig count as of August 25th, lower by 133 compared to one year ago.

Direct Air Capture projects obtaining DoE funding

2: The number of new Direct Air Capture projects to obtain DoE funding. The commercial-scale projects will be located in Calcasieu Parish, LA and Kleburg County, TX.
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