West Africa Ebola Outbreak. When the deadly Ebola outbreak erupted in West Africa in early 2014, Direct Relief responded â as aggressively and expansively as possible â sending more than 80 emergency shipments, or approximately $40 million in medical aid, to more than 1,000 hospitals and clinics throughout Liberia, Guinea, and Sierra Leone.
Of the 345 horizontal wells Oxy planned to drill in 2014, 172 were targeted at the Permian Basin. The companyâs average daily production of crude oil totaled about 153,000 barrels a day at the end of 2014, up by about 2% year-over-year. The average realized price for all its U.S. barrels, however, dropped from $104.30 to $90.57 year-over-year for the third quarter. In its 2013 annual report, Oxy reported revenue per U.S. barrel of oil equivalent (boe) of $64.48 and production costs of $14.43 per boe. Other expenses, including DD&A, resulted in pretax income per boe of $19.54. U.S. production costs dropped by $3.00 a barrel year-over-year in 2013. Apache Corp. (NYSE: APA) reported 2013 production of around 90,000 barrels a day from its Permian Basin operations.
Otherwise, Saudi Arabia would send more oil the shorter distance to Asia, while West Africa would send more oil the shorter distance to the Americas. Gulf (of Mexico) refineries are said to have invested in capability to process heavy and/or high-sulfur oil. The 0.9 Mbbl/day each from Saudi and Venezuela are largely heavy oil. However increased US light oil production is not only displacing African light crudes from the East Coast, but also reducing the need to crack heavy crudes.