Report: U.S. posts record month for crude oil, NGL production
Tuesday, July 31, 2018
U.S. natural gas liquids and crude oil production hit all-time highs last month, according to a report released by the American Petroleum Institute.
In June production of crude oil hit 10.7 million barrels per day and June production of NGLs hit 4.2 million barrels per day, according to Kallanish Energy.
“Record production of U.S. crude oil and natural gas liquids last month highlighted the strength of our nation’s energy renaissance,” said API chief economist Dean Foreman in a statement.
Additionally, the API reported the U.S. petroleum demand year-to-date was at its strongest since 2007 with 20.6 million barrels per day.
Learn more: Kallanish Energy > API: U.S. hits record crude oil, NGL production in June
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.