Hydraulic Fracturing Responsible for Half of America’s Oil Production
According to a report by the Energy Information Administration (EIA), hydraulic fracturing combined with horizontal oil drilling is responsible for over half of the total U.S. crude oil production. As the report puts it,
“This technique, often used in combination with horizontal drilling, has allowed the United States to increase its oil production faster than at any time in its history. Based on the most recent available data from states, EIA estimates that oil production from hydraulically fractured wells now makes up about half of total U.S. crude oil production.”
The report further notes:
“By 2015, the number of hydraulically fractured wells grew to an estimated 300,000, and production from those wells has grown to more than 4.3 million b/d [barrels per day], making up about 50% of the total oil output of the United States.”
Due to this production, the US has been able to surpass countries like Russia and Saudi Arabia to become the world’s largest producer of oil in 2014, according to the IEA and the Bank of America. It has also allowed the US to record its first trade surplus with OPEC in 2015.
Thanks to hydraulic fracturing, the US – now the global leader in production – has been able to strengthen its energy security and economy.