API: Natural gas well completions up 3 percent in Q3
WASHINGTON, October 16, 2014 – Estimated U.S. natural gas well completions increased by 3 percent in the third quarter of 2014 compared to year-ago levels, according to API's 2014 Quarterly Well Completion Report, Third Quarter.
“America’s oil and natural gas industry increased natural gas drilling in the third quarter thanks in large part to access on private and state lands,” said Hazem Arafa, director of API's statistics department. “Additional access to our own vast energy resources and streamlined federal permitting would allow for more opportunities to produce U.S. energy while creating more American jobs and generating more revenue for our government."
Total oil well drilling increased 1 percent in the total year-to-date figures for 2014, according to the report, and exploratory oil wells increased 12 percent for the 3rd quarter. Total gas drilling decreased over the same time frame, resulting in the total well completions for year-to-date 2014 remaining steady.
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 600 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 20 million Americans.
# # #
The 2014 API Quarterly Well Completion Report, Third Quarter is available for an annual subscription through API's primary distributor, Information Handling Services (IHS). If you would like to purchase an annual subscription to this report, please contact IHS at 1-800-854-7179, or visit their website at www.global.ihs.com.