Estimated U.S. oil well completions increased by 5 percent in the second quarter of 2014 compared to year-ago levels, according to the American Petroleum Institute’s 2014 Quarterly Well Completion Report, Second Quarter.
“America’s oil and natural gas industry increased oil drilling in the second quarter thanks in large part to access on private and state lands,” according to Hazem Arafa, director of API’s statistics department.
“Additional access to our own vast energy resources and streamlined federal permitting would allow for more opportunities to produce U.S. energy while creating more American jobs and generating more revenue for our government.”
Estimated total well drilling increased in the total year-to-date figures for 2014.
Estimated natural gas well completions decreased over the same time period, but exploratory gas wells increased by 22 percent in 2014.
API said the oil and natural gas industry supports 9.8 million U.S. jobs and 8 percent of the U.S. economy.