US Sets New All-Time High

(DailyEmailNews.com) – Fеeling the results of former President Donald Trump’s efforts to turn America into an energy powerhouse, the U.S. Energy Information Administration announced a groundbreaking achievement for U.S. domestic crude oil production.

Sеptеmber 2023 saw a record-breaking output of 13,247,000 barrels per day, the highest volume of oil produced by any nation globally in a single month. This milestone underscores the outstanding transformation of the U.S. oil and gas sector caused by cutting-edge technology.

Remarkably U.S. producers not only set a new record in November but also surpassed September’s production in December, the latest month with thorough data. It is likely that the record of 13,319,000 barrels per day achieved in November has been surpassed again in the first quarter of 2024.

This rise in productivity per well was made possible due to technological advancements and more efficient processes, which have been vital in improving overall production despite a significant reduction in the active rig count by over 25% in the past 15 months.

This record was achieved 15 years after U.S. crude production hit a low not seen since the World War II era, with just 3,974,000 barrels per day produced in September 2008. Fast forward to 15 years later and Texas alone surpasses that figure significantly.

The start of the shale revolution marked a key turn. October 2008 saw the successful drilling of the first horizontal oil well in South Texas’ Eagle Ford Shale, initially projected for dry natural gas extraction but resulted in the discovery of light, sweet crude oil.

By 2012 Texas’s oil production surged from 1 million barrels per day in 2008 to 3 million. As of November 2023 Texas alone produced 5,657,000 barrels per day, ranking as the world’s fourth largest oil producer if it were an independent nation.

These astounding figures emerge despite the Biden administration’s measures to restrict the industry’s growth. The strength and expansion of America’s energy sector can be attributed to several factors:

  • Favorable geology and geography, where the richest shale formations are located in areas with minimal federal land ownership, primarily in Texas and North Dakota.
  • A legal framework that limits the president’s power to regulate the industry’s operations on non-federal lands.

Currently the U.S. leads the world in oil and natural gas production and enjoys near-total energy security and reduced dependence on foreign oil.

Copyright 2024, DailyEmailNews.com