US oil production on the rise

After two decades of declining oil production, the US is seeing progressive increases in production of both crude oil and lease condensate since 2008. Part of the oil production resurgence comes from the tight oil formations found in three key areas: the Permian basin in West Texas and southeastern New Mexico, the Eagle Ford shale area in Texas' Western Gulf basin, and the Williston basin in North Dakota, South Dakota, and Montana, which includes the Bakken formation. Rise in production The ability to combine horizontal drilling with hydraulic fracturing has allowed exploration and production companies' access to large volumes of oil within rock formations once not economically feasible t...

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