The Marcellus is the most prolific gas formation in the US, but the rig count there has fallen. (Statoil)
Although there are tentative signs the steep declines in oil and gas production in the United States – a result of low prices – may be starting to level out, production will continue to fall in the coming months.
US oil production fell from a peak of around 9.6 million barrels per day (MMb/d) in July 2015 to around 8.5 MMb/d in July 2016, while gas production dropped from a peak of around 2.2 billion cubic metres per day in August 2015 to around 2.1 bcm/d in the week ending 3 August, recent data from the Energy Information Administration (EIA) show.
You must be a subscriber to read this content
Already a subscriber?
If you already have a subscription, sign in to continue reading this article.
Sign inNot a subscriber?
To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.
Sign up