Monday, February 22, 2016
Data released by the Pennsylvania Department of Environmental Protection shows that low prices affected drillers’ production numbers and the number of wells drilled in 2015.
Before last year, oil and gas companies were increasing production by 30 to 50 percent a year. Pittsburgh Tribune-Review reports that last year, drillers increased production from unconventional wells by just 2.7 percent. Well numbers grew little last year, with just 653 new wells drilled.
According to the source, companies are still fracking and bringing previously drilled wells online, focusing on the best-producing and most cost-effective areas.
Read more: Pittsburgh Tribune-Review > Growth of Pa. shale drilling cooled in 2015
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