According to the American Petroleum Institute’s (API) ‘2016 Quarterly Well Completion Report, First Quarter,’ estimated natural gas well completions have fallen by 70% in 1Q16 compared to the corresponding period of last year.
Hazem Arafa, Director of the API's statistics department, said: “America’s shale energy revolution has helped the US lower our greenhouse gas emissions while making energy cheaper for American consumers […] To continue this progress, we must revisit current energy policy, speed up the LNG export approval process and avoid unnecessary regulations to help US producers to compete effectively in the global market under the low-price environment.”
Exploratory oil completions also fell 90% in the period.
Edited from press release by Callum O'Reilly
Read the article online at: https://www.lngindustry.com/liquefaction/07042016/api-gas-well-completions-down-70-percent-2240/