Marginal wells account for much US production

12/11/2006
Marginal wells remain an important segment of US oil and gas production operations.In its latest report, the Interstate Oil and Gas Compact Commission (IOGCC) estimated that these wells in 2005 accounted for about 17% of oil and 9% of natural gas produced onshore USThe report “Marginal Wells: Fuel for Economic Growth,” October 2006, said that these wells in 2005 produced more than 321 million bbl of crude and 1.76 tcf of natural gas, with average daily production reaching its highest in 10 years.The report outlined also the economic benefits these wells create. It said in 2005, states collected more than $1.2 billion in taxes from marginal wells. In the US, every dollar of mar...
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