American Energy is Fueling our Economy

Mary Schaper
Posted March 30, 2015

U.S. Oil Production Growth in 2014 Was Largest in More Than 100 Years

EIA Today in Energy: U.S. crude oil production (including lease condensate) increased during 2014 by 1.2 million barrels per day (bbl/d) to 8.7 million bbl/d, the largest volume increase since recordkeeping began in 1900. On a percentage basis, output in 2014 increased by 16.2%, the highest growth rate since 1940. Most of the increase during 2014 came from tight oil plays in North Dakota, Texas, and New Mexico where hydraulic fracturing and horizontal drilling were used to produce oil from shale formations.

In percentage terms, the 2014 increase is the largest in more than six decades. Annual increases in crude oil production regularly surpassed 15% in the first half of the 20th century, but those changes were relatively less in absolute terms because production levels were much lower than they are now. Crude oil production in the United States has increased in each of the previous six years. This trend follows a period from 1985 to 2008 in which crude oil production fell in every year (except one).

Read more: http://1.usa.gov/1EUzbhU

More industry news:

• EPA Chief: Keystone Won’t be a Disaster for the Climate: http://bit.ly/1ytitEi

• Oil Industry to Obama: Stop Excluding Atlantic Drilling Leases: http://bit.ly/1IgeHmF

• The 101-Year-Old Woman Who Found Millions in Her Mailbox: http://bloom.bg/1CCKeiS

• Commentary: America’s Shale Fields Offer a Chance for a New Oil Doctrine to “Reset” Geopolitics: http://onforb.es/19AiBuV

• Eagle Ford Gas Fueling Gulf Coast Growth: http://bit.ly/1BXjcO7

• ANGA’s Durbin: Methane a Poster Child for Voluntary Progress: http://bit.ly/1HXw6Uu