EIA’s estimates for state crude oil production account for incomplete, lagged data

Market analysts have a keen interest in understanding how crude oil production has been affected by recent changes in crude oil prices and drilling activity. EIA develops state-level production estimates based in part on state-level data. However, data from state agencies are often incomplete when first published because of late reporting and processing delays. Because EIA’s methodology for state-level production estimates aims to anticipate and account for expected revisions to data collected by the states, production data published by EIA and state agencies can differ.

via Today in Energy http://ift.tt/1ScX23p

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