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Petroleum Devolopments
22
Volume
44
Issue
3
US tight oil production
In January 2018, US tight oil production increased by 199 thousand b/d or 3.1%
comparing with the previous month level to reach 6.537 million b/d, representing
an increase of 1.3 million b/d from their last year level. The US oil rig count
increased by 9 rig comparing with the previous month level to reach 820 rig, a level
that is 238 rig higher than last year, as shown in
table (3)
and
figure (7)
:
Source: EIA, Drilling Productivity Report for key tight oil and shale gas regions, February 2018.
* focusing on the six most prolific areas, which are located in the Lower 48 states. These six regions accounted for 92% of
domestic oil production growth during 2011-2014, Bakken, Eagle Ford, Haynesville, Niobrara, Permian, Appalachia (Utica
and Marcellus), in addition to Anadarko region which become the target of many producers in the recent years, as of July
2017, there are 129 operating rigs in the Anadarko region.
Figure - 6
World Oil Supply and Demand
(Million b/d)
Table 3
US tight oil production*
(Million b/d)
January
2018
December
2017
Change from
December
2017
January
2017
Change from
January
2017
tight oil production
6.537 6.338 0.199
5.233
1.304
Oil rig count (rig)
820
811
9
582
238
Tables (7)
and
(8)
in the annex show world oil demand and supply for the period
2015-2017.