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. By 2015, the U.S. was producing 12.7 million barrels of oil per day and 767.3 billion cubic meters of natural gas per day. 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 19.4 million barrels of oil per day and 778 billion cubic meters of natural gas in in 2015.

Texas is the United States' leading oil producing state, with 27 of the top 100 highest-producing oil fields in the country located there as of December 31 2013. Located in Texas, the Eagle Ford Shale was the most highly extracted U.S. oil field as of 2013, producing some 238 million barrels of oil that year. 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 is the largest natural gas field 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, this amount is likely to continue to decrease. By November 2015, approximately 94 thousand people had been laid off by energy companies based in the U.S. in that year.

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