IOGCC Releases Marginal Well Report

The Interstate Oil and Gas Commission released the 2015 Marginal Well Report on Thursday, Sept 8th. The report documents marginal well activity in the U. S. and the contribution that marginal well production well makes to the economy. The report documents that 72.2% of the wells operating in the U.S. in 2015 are marginal wells that continue to produce despite oil prices. IOGCC Executive Director Carl Michael Smith said, “This report will show the vital role marginal wells play for our nation’s energy security and independence.” Marginal wells have produced over 2.85 billion barrels of oil and 19.9 billion Mcf of natural gas since 2006. The survey also showed that since 2012 when the last survey was conducted over 24,000 marginal or stripper wells were added to the nation’s inventory. In 2015 marginal oil and gas wells accounted for an estimated 57,560 jobs in the U.S. RPSEA President, Thomas Williams commented, "The IOGCC marginal well report highlights the value of these reserves to the U.S. economy. This important study provides the justification for maintaining access to literally billions of barrels equivalent of reliable oil and natural gas in the United States." The Marginal Well report is available on the IOGCC website.