EIA: Lower 48 Wells Yield Less as U.S. Oil Output Soars

SECAUCUS, NJ (DTN) – Crude oil production from existing wells in the lower 48 U.S. states fell 39% at the end of last year from the prior year due to declines in reservoir pressure, Energy Information Administration data released Wednesday (11/05) showed.

Output from the Lower 48 wells fell to 6.7 million bpd in December 2024, from 11 million bpd a year earlier.

The declining yield runs contrary to total U.S. oil production itself, which hit a record high of 13.8 million bpd in August, according to EIA data.

Natural gas production from wells existing before last year declined to 88.4 billion cubic feet per day in December 2024 from 115.4 Bcfd the prior year. That was a drop of 23%.

Well production declines over time as reservoir pressure decreases, the EIA said, adding that horizontal wells typically exhibit higher decline rates than vertical wells.

Horizontal wells currently account for 94% of oil production and 92% of gas output in the Lower 48. U.S. drillers brought more than 15,000 new wells online in 2024, including approximately 11,700 horizontal wells, the EIA noted.