Improving well productivity helps U.S. oil companies increase production at a lower cost

Second-quarter 2024 financial results for 34 publicly traded U.S. oil exploration and production (E&P) companies suggest increasing well productivity is helping these companies reduce production costs on a per barrel basis and freeing up cash for other uses such as dividends and share repurchases. In the first eight months of 2024, U.S. crude oil production ...