Source link : https://tech365.info/the-oil-business-is-going-through-a-downside-cleantechnica/
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An fascinating headline from the U.S. Power Info Administration caught my consideration final week. The title of the quick story is: “Rapid declines from horizontal wells require more drilling to sustain production.” It type of seems like an advocacy article of some type to help our “oil economy.” Right here’s the important thing pair of charts (one regarding crude oil and one regarding fossil gasoline):
“As U.S. crude oil and natural gas production have increased, so has the volume of production declines from existing wells. To offset the increasing declines, operators today must bring on new wells to sustain or increase production levels,” the EIA summarizes. “Between 2010 and 2024, hydrocarbon production from new wells in the Lower 48 states (L48) generally offset and exceeded declining production from existing wells. Because production from oil and natural gas wells declines over time as reservoir pressure decreases, new wells are required to maintain the same production level. The increasing number of horizontal wells has contributed to this trend because horizontal wells exhibit higher decline rates than vertical wells.”
So, principally, newer oil wells get drained quicker, and thus want changed faster.
Right here’s another paragraph and pair of charts on this: “In December 2023, L48 crude oil production averaged 11.0 million barrels per day (b/d). Production from…
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Author : tech365
Publish date : 2025-11-12 23:50:00
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