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Petroleum Devolopments
26
Volume
44
Issue
2
US tight oil production
In December 2017, US tight oil production increased by 101 thousand b/d
or 1.6% comparing with the previous month level to reach 6.338 million b/d,
representing an increase of 1.2 million b/d from their last year level. The US oil rig
count increased by 20 rig comparing with the previous month level to reach 811
rig, a level that is 273 rig higher than last year, as shown in
table (3)
and
figure (7):
Source: EIA, Drilling Productivity Report for key tight oil and shale gas regions, January 2018.
* focusing on the six most prolific areas, which are located in the Lower 48 states. These six regions accounted for 92% of
domestic oil production growth during 2011-2014, Bakken, Eagle Ford, Haynesville, Niobrara, Permian, Appalachia (Utica
and Marcellus), in addition to Anadarko region which become the target of many producers in the recent years, as of July
2017, there are 129 operating rigs in the Anadarko region.
Figure - 6
World Oil Supply and Demand
(Million b/d)
Table 3
US* tight oil production
(Million b/d)
December
2017
November
2017
Change from
November
2017
December
2016
Change from
December
2016
tight oil production
6.338 6.237 0.101
5.172
1.166
Oil rig count (rig)
811
791
20
538
273
Tables (7)
and
(8)
in the annex show world oil demand and supply for the period
2015-2017.