The Appalachia basin is by far the most productive natural gas basin in the United States. Monthly gas production in the Appalachia region amounted to some 36.1 million cubic feet per day in April 2024. It is estimated that this figure will fall to 35.8 million cubic feet in June 2024. The Appalachia basin is situated across the states of New York, Pennsylvania, West Virginia, Virginia, Maryland, Ohio, Kentucky, Tennessee, Alabama and Georgia. The Permian basin is the second most productive natural gas basin, with production estimated at 25.4 million cubic feet per day in April 2024.

The majority of the existing natural gas wells in the United States as of 2018 operated within a wide range of production rates, varying from ** to ***** barrels of oil equivalent per day. Natural gas wells with a very low or very high daily production had almost no participation in this industry.

United States Natural Gas: Spot Price: Henry Hub-I data was reported at 3.260 USD/MN BTU in 05 May 2025. This records an increase from the previous number of 3.100 USD/MN BTU for 02 May 2025. United States Natural Gas: Spot Price: Henry Hub-I data is updated daily, averaging 2.930 USD/MN BTU from Jan 1997 (Median) to 05 May 2025, with 7145 observations. The data reached an all-time high of 23.860 USD/MN BTU in 17 Feb 2021 and a record low of 1.210 USD/MN BTU in 11 Nov 2024. United States Natural Gas: Spot Price: Henry Hub-I data remains active status in CEIC and is reported by U.S. Energy Information Administration. The data is categorized under World Trend Plus’s Commodity Market – Table US.P026: Petroleum Spot Price: Energy Information Administration. Previously named as Henry Hub Released once a week (every Wednesday) with data from Wednesday to Friday of the previous week up to Tuesday of the current week. If Wednesday falls on a holiday, the data will be released on the next business day. Price spike on Feb 11 to 18, 2021 data was caused by the effect of decline in natural gas production brought about by the cold wave experienced during the month. Price spike on Jan 12, 2024 data was caused by the anticipation of increased natural gas consumption because of the weather forecast for well-below-normal temperatures for most of the United States over the long weekend. [COVID-19-IMPACT]

Expand Energy is the largest producer of natural gas in the United States. The company was created in 2024 through the merger of Chesapeake Energy and Southwestern Energy and reported a production output of some *** billion cubic feet per day. Of the five leading producers, ExxonMobil and Chevron are considered an oil and gas supermajor or "Big Oil" company. Most productive U.S. shale play Expand Energy is primarily active in the Appalachia and Haynesville shale plays, some of the most productive U.S. shale plays. The Marcellus play, which belongs to the Appalachian basin, yields around ** trillion cubic feet of shale gas every year. The U.S. relies on shale for a large part of its natural gas output. Total natural gas production in the U.S. has climbed to over one trillion cubic meters.

Global natural gas production reached a record high of ************* cubic meters in 2024, continuing a general upward trend that has persisted for decades. The increase in production aligns with rising global natural gas demand, which is projected to surpass ************ cubic meters by 2050, driven largely by consumption in the Asia Pacific region. Liquefied natural gas trade expands As natural gas production rises, so does the global trade in liquefied natural gas (LNG). In 2023, LNG trade volume reached *********** cubic meters, with the United States emerging as the world's largest LNG exporter. The growth in LNG trade is supported by increasing liquefaction capacity, which reached ************* metric tons in 2023, a ** percent increase since 2010, although growth has slowed in recent years. United States leads in production and exports The United States has solidified its position as the world's leading natural gas producer and exporter. In 2023, U.S. production reached approximately ************ cubic meters, accounting for roughly ********** of global production. It significantly outpaces Russia, the second-largest producer. U.S. production dominance extends to exports, with the U.S. shipping **** billion cubic meters via pipelines and ************* cubic meters as LNG in 2023.

Crude Oil Production in the United States increased to 13468 BBL/D/1K in April from 13450 BBL/D/1K in March of 2025. This dataset provides the latest reported value for - United States Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The United States is the world's largest crude oil producer. In 2023, it had an output of 19.4 million barrels worth of oil per day. This was nearly 12 million barrels more than in 2010 and largely a result of advances in unconventional tight oil production. Saudi Arabia and Russia ranked second and third, at around 11.4 and 11.1 million barrels daily respectively. Oil production includes crude oil, shale oil, oil sands, and natural gas liquids. Distribution of U.S. oil production The U.S. is divided into five regional divisions for oil production, known as Petroleum Administration for Defense District’s (PADD), which were created during World War II. The main goal was to organize the allocation of fuels from petroleum products and for data collection purposes these regions are still currently used. Out of all PADD's, PADD 3, including the Gulf Coast states, has recorded by far the largest daily crude oil production, at some 7.9 million barrels in 2021. By comparison, PADD 1 (East Coast) production volumes were 74 thousand barrels per day. The importance of PADD 3 to the country’s overall oil output is hardly surprising as Texas is by far the state with the largest crude oil production. U.S. natural gas production Besides being the world's largest oil producer, the U.S. is also the world’s largest natural gas producer. It produced over 934 billion cubic meters in 2021, despite ranking fifth in terms of proved natural gas reserves .

Texas-based multinational energy corporation, ConocoPhillips, produced a total of some 1.44 billion cubic feet per day of natural gas in 2022 in the United States. The production of natural gas in Alaska alone amounted to 34 million cubic feet per day. ConocoPhillips was one of the largest oil companies worldwide until 2012, when the mid- and downstream segment was transformed into a new single company - Phillips 66.

The USA: Liquefied petroleum gas production, thousand barrels per day: The latest value from 2014 is 648 thousand barrels per day, an increase from 615 thousand barrels per day in 2013. In comparison, the world average is 20.98 thousand barrels per day, based on data from 189 countries. Historically, the average for the USA from 1980 to 2014 is 557.97 thousand barrels per day. The minimum value, 270 thousand barrels per day, was reached in 1982 while the maximum of 704.87 thousand barrels per day was recorded in 2000.

US Oil And Gas Upstream Market size was valued at USD 923.44 Million in 2024 and is projected to reach USD 1094.75 Million by 2032, growing at a CAGR of 2.15% from 2026 to 2032.

Key Market Drivers

Growing Domestic Oil Production and Energy Independence: The United States has greatly increased its oil and gas production capacity, hence boosting its position in global energy markets. According to the Energy Information Administration (EIA), US crude oil output hit a new high of 13.3 million barrels per day in 2023, a 32% increase from 2018. According to the US Department of Energy, domestic oil output has reduced petroleum imports by 65% since 2010, and the US became a net energy exporter in 2020, exporting an average of 3.6 million barrels of petroleum products per day in 2023.

Technological Advancements in Drilling and Extraction: Advanced drilling technologies and improved extraction procedures have greatly increased production efficiency.

ExxonMobil's natural gas production in the United States amounted to a total of approximately *** billion cubic feet per day in 2024. The oil and gas company is among the leading producers of natural gas in the U.S. ExxonMobil's worldwide natural gas production reached *** billion cubic feet per day that same year.

As a result of crude oil price crash followed by the economic crisis sparked by Covid-19, crude oil demand has plummeted due to restricted mobility as lockdown measures were implemented. Operators were swift to readjust their capital and production guidance for the year of 2020. From a list of 17 operators, the total capital expenditure cut sums up to approximately US$ 38 billion, with Exxon leading the cut with US$ 10 billion followed by Chevron with US$ 6 billion. However, Occidental Petroleum has the biggest percentage cut of 55%. The withdrawal of investments in development plan in US Lower 48 states has led to a decline in production in 2020. The oil production cuts intensified during Q2 2020 with Permian Basin experienced the biggest decline in crude oil, summing up to approximate 1 million barrels a day (mmbd). As for the natural gas decline, Permian and Eagle Ford contribute to approximately 3.5 billion cubic feet per day (bcfd) and 1 bcfd as a result of oil well production curtailment. Read More

Shell's oil and natural gas liquids production remained relatively stable in 2024, with the company producing 507.5 million barrels through subsidiaries and an additional 23.9 million barrels through joint ventures and associates. This production level places Shell among the top oil and gas companies worldwide. Production comparison with other major players While Shell maintained steady production, other major oil companies showed varying trends. ExxonMobil, for instance, reported a significant increase in daily liquids production, reaching nearly 3 million barrels per day in 2024. In contrast, BP's output has remained at around 1.1 million barrels per day following the divesting of its Rosneft shares in 2022. Chevron and TotalEnergies fell between these extremes, with daily production of 1.6 million and 1.55 million barrels, respectively. North America dominates as largest producing site The global nature of oil production is evident in the regional breakdown of these companies' outputs. BP, for example, saw North America become its largest producing region, accounting for 376,000 barrels of daily output in 2024. Chevron similarly reported strong U.S. production, with 1.15 million barrels produced daily in its home market.

In 2024, natural gas consumption in the United States amounted to around ****billion cubic meters, up from nearly ****billion cubic meters one year earlier and the highest value recorded within the period of consideration. Between 1998 and 2024, natural gas consumption in the U.S. increased by almost ****billion cubic meters.

Worldwide natural gas consumption has stagnated over the past three years. In 2024, natural gas consumption worldwide amounted to roughly ************* cubic meters. What is natural gas? Natural gas is a mixture of gases, primarily methane. Consisting mostly of hydrocarbons, it is found in deposits called reservoirs beneath the surface of the Earth. Natural gas is considered the Earth’s cleanest fossil fuel because it produces carbon dioxide, water vapor, and small amounts of nitrogen oxides when it is burned. In its natural state, natural gas is colorless and odorless. It is used commonly in residential, commercial, and industrial applications, such as heating and electricity generation. Although it is the cleanest burning fossil fuel, natural gas development has resulted in the increase of hydraulic fracturing (also known as fracking), a controversial and environmentally damaging extraction method. Natural gas consumption in the United States In 2023, the United States was the leading consumer of natural gas worldwide. Their natural gas consumption has been increasing slightly since 1995, amounting to some ************* cubic feet in 2023. That same year, the industrial sector in the United States consumed the second largest proportion of natural gas of all sectors, second to electricity generation. In the U.S. industrial sector, natural gas is used as a fuel for process heating, heat and power systems, and as a raw material to produce chemicals and fertilizer.

This methane drainage report covers work performed for the US Department of Energy under Contract DE-AC21-81MC16373 by Occidental Research Corporation during the period January 1, 1981 through March 31, 1982. The primary objective of the production drilling was to drain sufficient quantities of gas from the coal bed in advance of mining for utilization in the coal dryers at the Virginia Pocahontas Division No. 5 Mine. During the reporting period a total of 10,367 feet of production drilling was completed compared to the targeted aggregate depth of 5000 feet. In addition, exploration drilling was conducted in two mines totaling to 3750 feet. The production holes have drained 188 MMCF of gas during this period. Since inception of the methane drainage program a grand total of 23,000 feet of horizontal holes have been drilled and approximately 673 MMCF of commercial quality gas has been drained. Daily gas production at the end of the period was 1.5 MCFD.

In Terms of Revenue, Seamless market was the Leading segment with 58.67% Share of total Oil Country Tubular Goods Market. In Terms of Revenue, Well Casing was the Leading segment with 34.06% Share of total Oil Country Tubular Goods Market. In Terms of Revenue, Onshore was the Leading segment with 58.13% Share of total Oil Country Tubular Goods Market. North America was the dominated region with 34.06% of total revenue market share. The mounting oil and gas industry drives the growth of the oil-country tubular goods market Oil and gas are non-renewable sources of energy. The world has showcased high dependence on oil and gas products to meet and fulfil a wide array of requirements right from personal, to residential, commercial, and industrial needs. Thus, increasing demand and dependency on oil and gas has been estimated which drives the growth of the oil and gas market. The increasing population and growing industrialization further drive the demand for oil and gas products.

According to the study, global petroleum consumption in 2018 was almost 100 million units of barrels per day.
According to U.S. Energy Information Administration in 2021, U.S. petroleum consumption averaged about 19.78 million barrels per day (b/d).

The oil and gas industry plays a vital role in the economy of the associated nations. As all nations are not blessed with oil and gas reservoirs, the blessed nation always has an upper hand when it comes to the distribution of oil and gas among other nations which is directly related to the national economy. Thus, several countries and oil and gas companies are directing themselves toward the exploration and extraction of oil and gas from conventional and unconventional oil resources which required advanced drilling and piping systems

According to American Petroleum Institute, the oil and gas industry’s total impact on US GDP was nearly $1.7 trillion, accounting for 7.9 percent of the national total in 2019 and it supports 10.3 million jobs in the United States

Further emerging trends such as the internet of things, AI, robotics, automation, big-data analytics, blockchain, and other technologies are expected to change the dimensions of oil and gas refineries. The rising deployment of advanced technology such as hydraulic horizontal drilling and fracturing technology is also boosting the growth of the Oil Country Tubular Goods market. Pipeline plays a significant role in the transport of natural gas right from the collection of products from the source to the shipment and storage of oil or liquefied natural gas (LNG). Thus, the mounting oil and gas industry drives the growth of the oil country tubular goods market. Restrain factor for Oil Country Tubular Goods Market

The world is dealing with several nature-related problems such as global warming, depletion of non-renewable resources, etc. Thus, in order to reduce the dependency on non-renewable resources like oil and gas, fossil fuels, etc. several government and nongovernment authorities are promoting the usage of alternative renewable energy sources. Moreover, owing to the high cost associated with exploration, production, import, and supply disruption of oil and gas, several governments are also taking demand restraint measures to reduce oil consumption in the country. As there is mounting usage and acceptance of renewable energy, a reduction in oil and gas consumption is been observed. Thus, the depletion of oil and gas reservoirs and reduced demand for oil and gas may act as a restraining factor for the oil country tubular goods market.

Key opportunity of Market.

Increased interest in offshore oil drilling ventures will create humongous growth opportunities.

Players in the global oil country tubular goods market will be set to reap tremendous revenue as a result of the increased interest of the global oil majors in offshore oil drilling ventures. These ventures involve the exploitation of petroleum reservoirs located beneath the surface of oceans rather than the conventional mainland reservoirs. In the last few years, offshore drilling schemes have gone skyrocketing at an outstanding rate. Most part of the discovered ocean is yet unknown and researchers opine that the top of oceans has tremendous amounts of crucial petroleum reserves. That is why an increased regional governments' as well as private operators' interest came to explore investing in off...

Sinopec (China Petroleum & Chemical Corporation) is the leading global oil and gas company by revenues generated. In the 12-month period leading up to July 2024, the Chinese state-owned enterprise generated ************** U.S. dollars in revenues. State-owned enterprises are largest producers State-owned businesses are among the largest within the oil and gas industry. Saudi Arabia's Saudi Aramco is the leading oil company worldwide based on daily oil production, at over ********** barrels per day. This is significantly more than the daily output of ExxonMobil. At *********** barrels of crude oil per day, it is the largest producer among public companies not majority owned by any state. The United States-based oil and gas giant ExxonMobil generated ************** U.S. dollars in revenues in the 12 months leading up to July 2024, coming in third in this list. Diversification of oil & gas portfolios Due to growing investor pressure and judicial court rulings, some oil and gas companies have been incentivized to increase the share of non-fossil fuel assets in their portfolio. Their efforts have been supported by an increasing number of investment funds and asset managers, with more diverse companies also often ranking higher in terms of brand value. Many European oil majors have already begun looking for clean energy ventures where their expertise may help them gain footing fast, such as offshore wind and blue hydrogen. This is also reflected in a growing share of low-carbon investments in overall capex.