The U.S. Energy Information Administration won White House approval earlier this week to introduce a new mandatory monthly production survey.
The survey will allow the EIA to gather its own production data rather than solely relying on figures provided by individual states, Reuters said.
The EIA hopes the new survey will paint a more accurate and timely picture of national oil and condensate production by providing an alternative to state output data that can take months or even years to finalize.
The survey will also gather information about the gravity of oil produced.
Producers would have 40 days from the end of the reporting month to file production data with the agency.
According to Reuters, the EIA believes its new survey can account for 85 percent of oil and gas production with fewer than 600 respondents every month, only a small fraction of the nation’s 13,000 well operators.
The survey program is expected to cost the federal government less than $1 million per year and should take respondents only four hours per month to collect the necessary data for, fill out and file.