API: Gas Well Completions Down YoY (USA)

Natural gas well completions in the third quarter of 2013 continued to decline with 30 percent fewer wells from year-ago levels, according to API’s 2013 Quarterly Well Completion Report: Third Quarter.

Total number of oil and natural gas wells completed in the third quarter of 2013 increased by 6 percent from year-ago levels, while total footage drilled increased 9 percent.

“The oil and natural gas industry expanded oil drilling in the third quarter of 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.”

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LNG World News Staff, October 14, 2013