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Petroleum Devolopments
Volume 42 Issue 10
US tight oil production
In August 2016, US tight oil production decreased by 116 thousand b/d
or 2.5% comparing with the previous month level to reach 4.555 million b/d,
representing a decrease of 735 thousand b/d from their last year level. The US
oil rig count increased by 33 rig comparing with the previous month level to
reach 333 rig, a level that is 255 rig lower than last year, as shown in
table (3)
and
figure (7)
:
Source: EIA, Drilling Productivity Report for key tight oil and shale gas regions, August 2016.
* focusing on the seven most prolific areas, which are located in the Lower 48 states. These seven
regions accounted for 92% of domestic oil production growth during 2011-2014 (Bakken, Eagle Ford
،
Haynesville
،
Marcellus
،
Niobrara
،
Permian
،
Utica)
Figure - 6
World Supply and Demand
(Million b/d)
Table 3
US* tight oil production
(Million b/d)
Change from
August 2015
August
2015
Change from
July
2016
July
2016
August
2016
-0.735
5.290
-0.116
4.671
4.555
tight oil production
-255
588
33
300
333
Oil rig count (rig)