Permian basin operators are increasingly turning to longer horizontal wells and super-laterals exceeding 15,000 ft to boost oil and natural gas production while limiting well counts and overhead costs, according to new data from the U.S. Energy Information Administration (EIA).
The U.S. Energy Information Administration will begin publishing new quarterly energy security datasets on May 13 covering global strategic petroleum reserves and shipping flows through key oil and LNG chokepoints, as ongoing disruption in the Strait of Hormuz continues to reshape global energy markets.
Crude oil prices moved lower today, after the U.S. Energy Information Administration reported a sizeable inventory build of 8.7 million barrels for the week to November 17.