Unconventional Oil, Natural Gas is the ‘Sweet Spot’ for US

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For commercial divers that work with oil and natural gas companies, this means more jobs and money for you!

 

Unconventional oil and gas activity is already revolutionizing America’s energy future and bringing enormous benefits to its economy, Director of Consulting Energy and Natural Resources at IHS Jerry Eumont said. Net petroleum imports have fallen from 60 percent of total consumption in 2005 to 42 percent in October 2012.

The recent surge in unconventional oil and gas and its effect in the United States was the topic of discussion at the American Petroleum Institute’s (API) Houston Chapter luncheon Tuesday.

U.S. oil production, which has risen 25 percent since 2008, reached about 8.5 million barrels per day in 2012, Eumont said.

Tight oil is contributing the most to this increase due to recent advances in energy development. Unconventional natural gas is also contributing to the transformation in the natural gas market. A dozen years ago, shale gas production was only 2 percent of the nation’s total natural gas production but represents 37 percent today.

 

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