American Oil and Gas Reporter - May 2021 - 75

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EIA Says USA Is Net Exporter Again
WASHINGTON-For a second consecutive year, data from the U.S. Energy
Information Administration shows that
the United States completed its most
recent year as a net energy exporter.
Energy exports from the United States
exceeded imports by 3.4 quadrillion Btus
(quads) in 2020, the largest margin on
record, according to EIA's Monthly Energy
Review. U.S. energy exports totaled 23.4
quads, nearly equaling the record high
set in 2019, and energy imports fell 13%
to 20.0 quads, the lowest level since 1992
(Figure 1).

EIA notes that decreases in crude oil
and natural gas imports largely drove last
year's change in U.S. energy trade. U.S.
crude oil exports have grown every year
since 2010 and reached another record
high in 2020. In 2020, the United States
exported more crude oil-3.2 million
barrels a day-than any other petroleum
product. U.S. crude oil imports fell to
5.9 MMbbl/d, the lowest level since 1991.
According to EIA, gross natural gas
exports, which have increased every year
since 2014, reached a record high of 14.4
billion cubic feet a day in 2020. Gross

imports of natural gas fell to 7.0 Bcf/d,
the lowest level since 1993.
Both U.S. imports and exports of petroleum products declined in 2020, EIA
reports. Imports fell 15% and exports
slipped 5%. Propane surpassed distillate
fuel oil as the country's most-exported
petroleum product, EIA says
Trade volumes of coal and other fuels
account for relatively small portions of
U.S. total energy trade, EIA adds. U.S.
coal exports, which had increased in
2017 and 2018, decreased in both 2019
and 2020.
❒

FIGURE 1
U.S. Total Energy Trade (1950-2020)
40

quadrillion British thermal units

20
gross
imports

imports

0
net trade

exports
-10

gross
exports

-20

-30
1950

1960

1970

1980

1990

2000

2010

2020

Source: U.S. Energy Information Administration, Monthly Energy Review

Talos Hits Oil At Puma West In The Gulf
HOUSTON-Talos Energy Inc., along
with BP PLC and Chevron USA Inc.,
report successful drilling results from
the Puma West exploration project in
the U.S. Gulf of Mexico Green Canyon
Block 821. The Puma West well was
drilled to a total depth of 23,530 feet
and was designed to test sub-salt Miocene
sands.
Talos cites a number of key highlights:
· The Puma West well encountered
oil pay in a high-quality, sub-salt
Miocene sand.
· Fluid properties from the discovered
Miocene zone carried properties similar
to other productive Miocene reservoirs
in the area.
· The co-owners will begin planning

an appraisal program that will better
define the discovered resource. The wellbore has been suspended as a keeper well
to preserve future utility.
· Talos maintains an interest in more
than 17,000 gross acres in the Puma
West area.
According to the company, Puma
West was evaluated following the farmin by BP to Talos-owned Green Canyon
Block 821 and subsequent farm-in by
Chevron. BP is the operator and holds a
50.0% working interest. Talos and
Chevron each hold a 25.0% working interest. The Puma West discovery is located fewer than 15 miles from the BPoperated Mad Dog field.
Talos Energy President and Chief

Executive Officer Timothy S. Duncan
says the company is excited about the
discovery, as well as the area's broader
potential. " Puma West is a great example
of the class of high impact catalyst opportunities still available in the U.S.
Gulf of Mexico, " Duncan says. " Advancements in seismic technology, operational efficiency and safety at these
depths, combined with ample available
infrastructure, support robust project
economics while also providing material
domestic energy resources to consumers
with a small environmental footprint.
We look forward to working through
our results, planning the appraisal and
advancing this project to its next phase
with BP and Chevron. "
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MAY 2021 75

American Oil and Gas Reporter - May 2021

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