Southern Green Canyon Crude Oil of USA: Its History, Price, and Production‍

 

The oil production industry is one of the world’s most dynamic, ever-changing sectors. New developments and discoveries are occurring almost every day, with new players entering the market constantly. 

Southern Green Canyon crude oil is a light oil produced in small quantities in the south-central part of Oklahoma. Still, it’s also made much more significant from wells in southern Georgia and northern Florida. 

The demand for this specific type of crude oil has more than doubled over the last five years, primarily because it’s an excellent feedstock for refineries that can process Light Oil. This article will explore everything you need to know about Southern Green Canyon Crude Oil.

 

The History of Southern Green Canyon Crude Oil

Southern Green Canyon crude oil is a light-coloured, sweet-smelling crude oil extracted from the Eagle Ford Shale of Texas. It has a low sulfur content and is considered an “all-purpose” oil that can be used in various industrial applications, including as a fuel for power generation and as an ingredient in chemical manufacturing.

Production is primarily focused on providing fuel to the U.S. market, but it has also recently begun to export to other countries. Southern Green Canyon crude oil is produced using various extraction methods, including steam-assisted gravity drainage (SAGD), air-assisted SAGD, and multi-stage hydraulic fracturing.

Southern Green Canyon crude oil has been produced for over a century, and its history stretches back to the early days of the 20th century. However, the most significant change to the oil sector occurred in the 21st century when fracking became the standard way to extract crude oil and natural gas from underground rock formations. 

Fracking allows producers to access new reserves previously beyond their reach, and it’s been the main reason for increased domestic crude oil production since 2010. Green Canyon is the largest oil field in the Gulf of Mexico, and it’s located in the Gulf of Mexico’s Green Canyon. 

The field’s size and location near the continental shelf make it one of the most important crude oil fields currently in production.

 

Location of Southern Green Canyon Crude Oil

Southern Green Canyon crude oil is located primarily in South-central Oklahoma, Northern Florida, and Georgia.

 

Price of Southern Green Canyon Crude Oil

The price of Southern Green Canyon crude oil is determined in the open market using the Brent Crude Midland price as a benchmark for pricing.

Several factors, including the supply and demand for oil, the overall health of the global economy, geopolitical events, weather, and the refining capacity of major oil-producing countries, determine the oil price.

 

Production of Southern Green Canyon Crud Oil

The production of crude oil from the southern green canyon is a relatively new process in the United States. Working with the Texas Oil and Gas Association, oil producers are basing their operations in West Texas and Oklahoma. Using advanced technology has led to higher yields that fracking can further enhance. The goal is to produce more oil out of each well.

A downside to this approach is that it releases some methane gas into the atmosphere. This is because of the organic material that is broken down during hydrofracking. However, there are ways to mitigate this impact, such as installing carbon capture and storage (CCS) technology. This can be done by capturing the methane before it leaks into the atmosphere and putting it into an underground repository.

Southern Green Canyon crude oil production was at 2 million barrels per day in 2018. The production is expected to grow to 8 million barrels per day by 2028, fueled by rising demand for crude oil in emerging markets such as India and China.

 

Transportation of Southern Green Canyon Crude Oil

Southern Green Canyon crude oil is transported using marine tanker, rail, and pipeline. The crude oil is transported by marine tanker to refineries along the coastlines, where the crude is delivered by pipeline.

 

Owners and Operators of Southern Green Canyon

The two most prominent companies in this sector are Chevron and ExxonMobil, which own and operate the wells in the USA. 

ExxonMobil is one of the largest companies in the world, with operations in more than 80 countries around the globe. The company is headquartered in Texas and operates in more than 35 countries. 

Chevron is one of the largest integrated energy companies in the world, with operations in more than 180 countries. The company is headquartered in California and employs over 76,000 people worldwide.

 

Southern Green Canyon Crude Oil Spec

The USA’s Southern Green Canyon crude oil is a light, sweet, low-sulfur crude oil. It contains relatively high levels of hydrocarbons: paraffin waxes, alkanes, and naphthenes. As a result, it has a high API gravity (which measures the density of the oil). Southern Green Canyon crude oil is about 48% to 55% hydrocarbons by volume.

It is produced from shallow-water oil reservoirs in the Gulf of Mexico.

Moreover, The properties of this oil include low viscosity, light colour, high density, and low sulfur content. Southern Green Canyon Crude Oil is extracted using surface mining technology, which involves open-pit operations and coal slurry injection. This crude oil can be used as an additive in diesel or jet fuel. It is also used in industrial applications such as lubricants and asphalt base oils.

This crude oil is typically produced from tar sands or shale oil deposits and transported via pipeline to refineries along the Gulf Coast for processing. 

Because it is light and sweet, it is often processed into gasoline blending components and other fuels. Southern Green Canyon crude oil also finds use as feedstock for asphalt manufacture.

 

Conclusion

Southern Green Canyon crude oil is a light oil produced in small quantities in the south-central part of Oklahoma. It’s also made in greater quantities from others wells in southern Georgia and northern Florida. 

The demand for this specific type of crude oil has more than doubled over the last five years, primarily because it’s an excellent feedstock for refineries that can process Light Oil. 

Southern Green Canyon crude oil production was at 2 million barrels per day in 2018. The production is expected to grow to 8 million barrels per day by 2028, making this very important for the US Gulf Coast trading markets.