API notes increase in shale oil, gas well drilling figures in 2011

04/30/2013 | Oil & Gas Journal

U.S. energy firms drilled a total of 10,173 unconventional oil and natural gas wells in 2011 up from 7,077 in 2010 and 5,531 in 2009, according to a report from the American Petroleum Institute. About $65.5 billion was spent on such projects in 2011, which represents an 87.6% increase from 2010 figures, the report found. "The rising numbers illustrate the growing importance of shale drilling in U.S. oil and natural gas development," said Hazem Arafa, API's statistics director.

View Full Article in:

Oil & Gas Journal

Published in Brief: