U.S. oil and gas industry - Statistics & Facts

U.S. oil and gas industry - Statistics & Facts

Statistics and facts about the U.S. oil and gas industry

The United States has been producing oil and gas since the 1850's and 1820's respectively. In 2015, the U.S. produced 567.2 million metric tons and 767.3 billion cubic meters of natural gas. As of 2015, it has the world's ninth-largest oil reserves and fifth-largest natural gas reserves. Notably, the U.S. is both the world's largest oil consuming nation and the world's largest natural gas consuming nation, consuming nearly 851.6 million metric tons in 2015 and 27.5 trillion cubic feet of natural gas in 2016.

Texas is one of the United States' leading oil producing states. The Eagle Ford Shale Play, located in Texas, is one of the most actively drilled targets for unconventional oil and gas. There were 55 oil rigs in the Eagle Ford region as of early 2017. Texas is also the leading natural gas producing state in the U.S., though Pennsylvania, the second-largest gas producing state contains the Marcellus Shale Area along with West Virginia, which has the highest number of gas rigs in the country.

Due to the relatively high cost of oil and gas production in the U.S., the recent oil glut has been problematic for many U.S.-based production projects. In 2015, there was a total of approximately 1.39 million people employed in the oil, gas, and petrochemical industry in the U.S., but with the global oil industry's downturn, the number of people employed by oil and gas rigs are expected to continue to decrease.

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