The United States reached an unprecedented milestone in domestic oil production, hitting a record-setting figure in September 2023.
New reports from the U.S. Energy Information Administration (EIA) highlighted that the nation produced 13,247,000 barrels of crude oil per day, showcasing a historic record in global energy production.
Remarkably, the record was surpassed in subsequent months, setting a new record in November and December, the last month for which data is available.
“It is likely November’s all-time record of 13,319,000 barrels per day (bpd) has been exceeded at least once again during the first quarter of 2024, as producers find ways to wring more production out of each wellbore,” The Telegraph reported.
The success is attributed to the industry’s enhancing efficiency, with producers increasing the output of each well by employing state-of-the-art technologies and innovative processes.
The boost in production took place despite more than a 25% decrease in the active rig count over 15 months. It marks a significant achievement for the U.S., unlike anything seen in modern times, especially considering the decline the industry faced 15 years ago.
In contrast to the 3,974,000 barrels per day output during the low point in September 2008, Texas alone was producing nearly 2 million barrels per day more by September 2023. This resurgence is closely linked to the advancements following the onset of the shale revolution which began in October 2008 with the first successful horizontal oil well in the Eagle Ford Shale, the Telegraph wrote.
By 2012, Texas’ production had soared to 3 million barrels per day, which further increased to more than 5.6 million barrels by November 2023. If Texas were considered an independent nation, its oil production would rank it as the fourth-largest on the globe.
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