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trillion ft 3 , or less than one third of its 2005 value. Unlike the relatively flat crude oil production trend in federal offshore areas, federal offshore natural gas production has been generally declining for years. In 2024, federal offshore natural gas production measured 0.8 Already a member?
By 2005, analysts predicted the Bakken contained 4.3 Technology Takes Hold: The introduction of hydraulicfracturing and horizontal drilling unlocked resources once deemed inaccessible, enabling recovery rates 30% higher than traditional methods. billion in profit in 2005, the highest ever recorded by a corporation.
Apparently, peak oil is back in vogue, like it’s 2005 instead of 2025. Thanks to human ingenuity, new drilling technologies like horizontal drilling and hydraulicfracturing unlocked vast reserves once thought inaccessible. output did, in fact, decline for several decades. But in 2008, the shale revolution took off!
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