29 March 2024
US upstream efficiency flattening as production set to hit all-time record high
Publication date: 15 August 2017
Gas Strategies Group
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ISSN: 0964-8496
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US gas and oil production is forecasted to continue rising toward new record highs, but flattening rig counts and efficiency rates suggest that the market could reach a new plateau unless price signals arrive and prompt a new wave of activity.
According to the latest set of predictions from the Energy Information Administration (EIA), US producers remain on track to recover from the downturn in production seen throughout most of 2015 and 2016 and reach all-time record highs before the end of this year.