According to a recent Energy Information Administration (EIA) report, the total number of wells producing natural gas and crude oil in the United States fell from 1,039,000 in 2014 to 991,000 in 2017. The reduction stems from advancements in extraction technology and drilling techniques.
However, during this same time period, daily production rates hit historic highs, even propelling the United States to the leading spot in crude oil production. U.S. oil production grew from 8.7 million barrels/day (b/d) in 2014 to 9.3 million b/d in 2017, and U.S. natural gas gross withdrawals increased from 78.7 billion cubic feet per day (Bcf/d) to 83.4 Bcf/d.
Since 2017, crude oil and natural gas production have continued to grow, most recently measured at 11.3 million b/d and 85.2 Bcf/d in August 2018, respectively.
In EIA’s report, wells are grouped into 26 production volume brackets, ranging from less than one barrel of oil equivalent per day (BOE/d) to more than 12,800 BOE/d. Most U.S. oil and natural gas production comes from wells producing between 50 BOE/d and 1,600 BOE/d. In 2017, wells within this range accounted for 9% of all wells but 62% of crude oil production and 63% of natural gas production.
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