Petroleum Africa
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Wednesday, April 8, 2015
The US maintained its position at the top of the list of producers of oil and natural gas in 2014 according to the EIA’s estimates. EIA estimates have the US out producing both Russia and Saudi Arabia over the past year.
Production in the US has been on the rise since 2008, seeing substantial growth out of Texas and North Dakota. In H2 2014 alone, the country saw an increase of 1.6 million bpd of crude. The US’ rise in production over the past few years can be directly attributed to success in “exploiting tight oil formations and shale gas,” the EIA reported, though commonly known in the industry.
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