Wednesday, October 15, 2014

Understanding the Explosion in US Energy Production

The charts and data below explain the primary driver of lower energy prices.

The amount of natural gas produced per rig in the Marcellus Region has increased 8-fold over the last five years, from a million cubic feet per day in 2009 to 8 million cubic feet per estimated by next month.

The combined daily oil output in America’s three largest oil fields – the Bakken, Eagle Ford and Permian Basin – has increased from 1 million barrels per day (bpd) in 2007 to more than 2 million bpd by late 2011, to more than 3 million bdp at the end of 2013, to more than 4 million bpd in May of this year, and all the way to 4.6 million bpd projected by next month.

(via Mark Perry)

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