05 Nov, 23

How The U.S. Is Pumping More Oil With Fewer Rigs

UncategorizedNo Comments

Despite the falling and flatlining rig count, U.S. crude oil production managed to hit a monthly record-high in August 2023, boosted by productivity gains and more efficient operations.  U.S. exploration and production companies are drilling longer laterals and deploying rigs to the most promising areas to get more bang for their buck.  U.S. field production of crude oil reached 404.6 million barrels during the month of August, new EIA data showed this week, for an average of 13.05 million barrels per day—squarely breaking the previous…

Leave a Reply

Your email address will not be published. Required fields are marked *

This field is required.

This field is required.