Almost three-quarters of all oil and natural gas wells drilled in the US as of 2016 were hydraulically fractured horizontal wells... fracked horizontal wells accounted for about 10.7 million of the nearly 13 million feet of total drilled footage in 2016, the EIA said.
Thanks to a rebound in New Mexico's oil industry, the state's lawmakers have much more money to work with as they craft a spending plan for the coming fiscal year that aims to boost spending on education, courts and law enforcement.
U.S. Interior Secretary Ryan Zinke recently announced a leasing plan for 2019-2024 that would put more than 90% of the total Outer Continental Shelf (OCS) acreage and over 98% of "undiscovered, technically recoverable" oil/gas resources in federal offshore areas in play for future exploration and development.
The global oil market has been closely watching U.S. output, which may continue to contribute to global oversupply even as OPEC members, Russia and other producers curb production.
[T]hanks to increased natural gas exports to Mexico, LNG exports to at least 20 countries and less gas flowing into the country from Canada, according to the U.S. Department of Energy.
Everything is becoming more efficient. Fewer rigs are required because modern drilling rigs can drill more wells faster and longer. The increasing automation and use of robotics mean fewer people in the oil fields.
"And this isn't just about the dollars and cents. Getting the policy right on energy infrastructure will lead to greater reliability, safety, security, and affordability."
Oneok recently announced plans for a 900-mile natural gas liquids pipeline that will accommodate increasing North Dakota production and play a role in reducing natural gas flaring.
There are many oil and gas employees near retirement age, and many - you guessed it - millennials.
