Share of natural gas production in US tight oil plays increased over the last decade

Last updated: | Reading Time: 2 minutes
Share of Natural gas produced from the three largest tight oil-producing plays in the United States has increased in the last decade.

Natural gas produced from the three largest tight oil-producing plays in the United States has increased in the last decade. Share of Natural gas comprised 40% of total production from the Bakken, the Eagle Ford, and the Permian compared with 29% in 2014.

Combined crude oil and natural gas production from tight oil plays has seen remarkable growth. It has more than doubled over the past decade. This substantial increase can be largely attributed to the advancements in extraction technologies. Notably hydraulic fracturing and commonly referred to as fracking. It is a horizontal drilling technique. These innovations have revolutionized the energy sector by enabling producers to access previously unreachable reserves of crude oil and natural gas trapped in tight formations. As a result, the landscape of energy production in the United States and globally has shifted significantly, with an expanding array of resources becoming available for both domestic consumption and international export.

Production of Natural Gas

In particular, the production of associated natural gas, which is derived from oil wells primarily producing crude oil, has outpaced the growth of crude oil output during this period. Specifically, natural gas production from these tight oil plays has more than tripled, reflecting a remarkable increase of 22 billion cubic feet per day (Bcf/d). In contrast, crude oil production has more than doubled, resulting in an additional 4 million barrels per day (b/d). This dynamic shift underscores the interlinked nature of oil and gas production and highlights the growing importance of natural gas as a critical component of the energy portfolio. As market dynamics evolve, stakeholders within the industry must adapt to these changes, balancing the extraction of both resources while considering environmental impacts and regulatory frameworks.

Click here to read the full article
Source: EIA

—

Do you have any questions or thoughts about the topic related to the share of natural gas? Feel free to contact us here or leave a comment below.

You might also like
ChevronChevron targets 1 million boe/d Permian production by 2025
New drilling technologyNew drilling technology to put billions of barrels of oil in reach, analysts say
Targa buying Stakeholder Midstream for $1.25B, adding Permian gas assets and ~$200M/yr cash flow with low capex.Targa Resources to acquire stakeholder Midstream for $1.25B
Devon Energy approves Solitude Pipeline, a joint venture building two gas pipelines from the Permian Basin to Katy, Texas.Solitude pipeline project advances Permian gas capacity
U.S. natural gas pipelines are seeing their biggest expansion since 2008, driven by surging LNG, data-center, and manufacturing.Permian gas wave sparks biggest pipeline buildout since the shale boom
Oil prices have fallen for the second consecutive week, but a major bullish catalyst may be looming in early February.Why oil prices could spike in February
Atlas Energy Solutions plans to expand its Permian Basin autonomous truck fleet from 28 to 100 by mid-2027, partnering with Kodiak AI.Atlas plans 100 driverless trucks for Permian logistics
ONEOK has completed its $4.425B acquisition of Brazos Midstream’s natural gas gathering and processing assets in the Midland Basin.ONEOK expands Midland Basin capacity with $4.425 billion deal
Oil was written off. Now it’s the most productive US industryOil was written offMaximize profits as an ORRI holder by understanding key tax deductions like depletion, lease bonuses, legal fees, and more to optimize your tax strategy.ORRI Holders Tax Deductions