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2018-04-20 09:25:00

U.S. PETROLEUM DRILLING UP 35%

U.S. PETROLEUM DRILLING UP 35%

API - Natural gas and oil drilling and completions rose more than 35 percent over 2017 levels signaling the strength of the U.S. natural gas and oil industry. In addition, the success rate for exploration of natural gas and oil was more than 60 percent, the highest rate since 2009.

"Today's report shows demonstrable progress and a strong future for the U.S. as the world's top producer and refiner of natural gas and oil," said API Chief Economist Dean Foreman. "With strong activity and continued technological gains in natural gas and oil production, we need to ensure that our nation's infrastructure keeps pace so that consumers, workers, and the environment can continue to experience the benefits of increased American energy production. Promoting our nation's energy infrastructure is a $1.3 trillion proposition that could support one million jobs per year through 2035 and help our economy to grow, make environmental progress, and increase our national security with abundant energy production."

In the first quarter of 2018:

  • The U.S. natural gas and oil industry experienced a 35 percent increase in drilled footage and a 37 percent increase in well completions, compared with Q1 2017.
  • The Exploratory success rate in Q1 2018 was above 60% and at its highest since 2009.
  • For Exploration (as opposed to Development) wells, completions rose by 29 percent, while drilled footage increased by 45 percent, which suggests continued technological progress in Exploration.

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Earlier:

 N.America
2018, April, 18, 13:07:00

U.S. OIL PRODUCTION +125 TBD, GAS +1,078 MCFD

EIA - Crude oil production from the major US onshore regions is forecast to increase 125,000 b/d month-over-month in May from 6,871 to 6,996 thousand barrels/day , gas production to increase 1,078 million cubic feet/day from 65,829 to 66,907 million cubic feet/day .

 

 N.America
2018, April, 18, 13:06:00

U.S. GAS PRODUCTION UP TO 59%

EIA - U.S. dry natural gas production will increase through 2050 across a wide variety of alternative assumptions about the future. In the Reference case, which is based on current laws and regulations, production grows 59% from 2017 to 2050, starting at 73.6 billion cubic feet per day (Bcf/d) in 2017 and reaching 118 Bcf/d in 2050.

 

 N.America
2018, April, 16, 09:15:00

U.S. GAS INVESTMENT: $170 BLN

BLOOMBERG - Gas output will expand by 24 billion cubic feet, or 32 percent, through 2025 from last year, according to U.S. Energy Information Administration estimates. To support that growth, the country’s gas industry needs to spend $170 billion over the next seven years on pipelines, compressor stations, export terminals and other related infrastructure, said Meg Gentle, chief executive officer of gas exporter Tellurian Inc.

 

 N.America
2018, April, 16, 09:00:00

U.S. RIGS UP 5 TO 1,008

BAKER HUGHES A GE - U.S. Rig Count is up 5 rigs from last week to 1,008, with oil rigs up 7 to 815, gas rigs down 2 to 192, and miscellaneous rigs unchanged at 1. Canada Rig Count is down 9 rigs from last week to 102, with oil rigs down 7 to 41 and gas rigs down 2 to 61.

 

 N.America
2018, April, 11, 13:20:00

U.S. GAS PRODUCTION RECORD

EIA - Two out of three of EIA’s measures of natural gas production in the United States set records in 2017. U.S. natural gas production measured as gross withdrawals reached 90.9 billion cubic feet per day (Bcf/d) in 2017, the highest volume on record according to EIA’s Monthly Crude Oil, Lease Condensate, and Natural Gas Production Report. U.S. natural gas production measured as marketed natural gas production also reached a new high, but dry natural gas production did not exceed 2015 levels.

 

 N.America
2018, April, 6, 18:15:00

U.S. OIL PRODUCTION UP 5%

EIA - Annual average U.S. crude oil production reached 9.3 million barrels per day (b/d) in 2017, an increase of 464,000 b/d from 2016 levels after declining by 551,000 b/d in 2016. In November 2017, monthly U.S. crude oil production reached 10.07 million b/d, the highest monthly level of crude oil production in U.S. history.

 

 N.America
2018, March, 28, 11:10:00

U.S. LNG EXPORTS UP

EIA - U.S. exports of liquefied natural gas (LNG) reached 1.94 billion cubic feet per day (Bcf/d) in 2017, up from 0.5 Bcf/d in 2016. As LNG exports increased, shipments went to more destinations. U.S. LNG exports in 2017, all of which originated from Louisiana’s Sabine Pass liquefaction terminal, reached 25 countries.

 

Tags: USA, OIL, GAS, PETROLEUM, DRILLING