Description

For 150 years, conventional oil and gas deposits were developed by drilling vertical wells. Supported by extensive Government research conducted in the 1970's, the petroleum industry developed horizontal well drilling and massive hydraulic fracturing in the 80's. Application of the new technology to unconventional shales reversed a five-decade oil production decline. Oil production in United States has returned to its prior peak rate of about 10 million barrels per day. The return to peak oil production is supported by a high level of energy security through the creation and filling the Strategic Petroleum Reserve. As told by a Government and oil industry insider, the Nation is now emerging as the world's new swing oil producer and is well on its way to energy independence.