US tight-oil production averaged 3.22 million b/d in fourth-quarter 2013, pushing overall US crude production to more than 10% of the world's total production, up from 9% in fourth-quarter 2012, according to the US Energy Information Administration.
"The US and Canada are the only major producers of tight oil in the world. In recent years, North American producers have developed technologically advanced drilling and completion processes to produce oil from tight formations," EIA said. Tight oil production in the US represents 91% of all North American tight-oil production; the rest comes from Canada.
In February, 63% of US tight-oil production came from two basins: the Eagle For...