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Last updateFri, 19 Oct 2018 1pm

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Oil and Natural Gas Drilling Sees 62% Increase

The American Petroleum Institute (API) estimates total wells drilled and completed in the second quarter of 2017 increased 62% compared to the second quarter of 2016. This includes a 41% increase in estimated development gas well completions and a dramatic 81% increase in total estimated oil well completions from year-ago levels. Total estimated oil well completions also increased 19% from the first quarter of 2017. Growing well completion figures could lead to an increase in U.S. oil production, which rose 62% from 2010 to 2016, and U.S. natural gas production which, also increased 26% during the same time. http://oilprice.com/Latest-Energy-News/World-News/API-Reports-62-Jump-In-Oil-Gas-Drilling-In-Q2.html  

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