EIA: Lower 48 producing more oil and natural gas from fewer wells
Monday, January 9, 2023
A decreasing number of oil and natural gas wells is supplying more oil and natural gas, according to a report recently released by the United States Energy Information Administration.
The trend has been attributed to the industry shift to more productive wells as a result of horizontal drilling and hydraulic fracturing.
The total number of producing wells in the U.S. saw an 11.1% drop from a peak of 1,031,183 wells in 2014 to about 916,934 wells in 2021. Simultaneously, production rose by 28% to average 11.25 million b/d in 2021, compared to 8.79 million b/d in 2014.
Learn more: Natural Gas Intelligence > Lower 48 Producing More Oil, Natural Gas from Fewer Wells Report Shows
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