API: Oil well completions up in 2013, natural gas completions down

Source:API

API: Oil well completions up in 2013, natural gas completions down Oil well drilling rose in 2013 with total oil well completions up 5 percent from 2012, according to API's 2013 Quarterly Well Completion Report.

“America’s oil industry expanded drilling in 2013 thanks in large part to access on private and state lands,” said 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."

Natural gas well completions in 2013 declined with 20 percent fewer wells than 2012, according to the report. Total number of wells completed in 2013 remained relatively unchanged with a decrease of 1 percent from 2012, while total footage drilled increased 4 percent.

API is a national trade association that represents all segments of America’s technology-driven oil and natural gas industry. Its more than 580 members – including large integrated companies, exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms – provide most of the nation’s energy and are backed by a growing grassroots movement of more than 20 million Americans. The industry also supports 9.8 million U.S. jobs and 8 percent of the U.S. economy, delivers $85 million a day in revenue to our government, and, since 2000, has invested over $2 trillion in U.S. capital projects to advance all forms of energy, including alternatives.

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