Lower 48 producing more oil, natural gas from fewer wells.

An Increasingly small percentage of oil and natural gas wells is supplying the majority of U.S. production, according to a new report from the Energy Information Administration (EIA) based on Enverus data. The trend is because of the proliferation of horizontal wells combined with hydraulic fracturing in the Lower 48, researchers said. 'Oil and natural gas wells drilled horizontally through hydrocarbon-bearing formations are among the most productive wells in the United States,' researchers said. They added...