U.S. Oil/Gas Production to Reverse 40 Year Decline with help from Bakken Production

by Jeffrey Gordon on

USGS Bakken Shale Map 150x150 U.S. Oil/Gas Production to Reverse 40 Year Decline with help from Bakken Production

USGS Bakken Shale Map

Oil and Gas Journal

 

A recent article covered testimony from industry experts to a congressional hearing regarding the future of U.S. Oil and Gas Production.  The experts told the congressional hearing members that the U.S. is going to reverse the 40 year decline in U.S. production and even eventually become a net exporter of refined products to the rest of the world.  The Bakken Production from North Dakota has already had a big impact on this and will continue to do so as more wells are completed and put on line.  The experts also discussed the huge investment in capital pouring into the U.S. and especially into the Bakken and Eagle Ford Shale plays and the large number of oil field jobs created.

The experts also indicated how important it is for hydraulic fracturing to be allowed as the means for separating the oil and gas from the “tight formations” of shale found in these new plays.

 

Read the article here.

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