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OFS - US set output record in 2019 despite relatively modest rig count - July 2020



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US crude and gas production set records of 12.2 MMbbl/d and 111.5 Bcf/d in 2019, despite the number of active rigs and wells drilled being at the lower end of the range during the past 45 years, the EIA reported on June 25. The increased productivity of wells with longer horizontal lengths has more than offset the effects of rigs drilling fewer wells, the agency said. The EIA said the average active rig count......
 
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