Horizontal Is The Direction

Posted: April 22, 2022
Category: News Pulse

RP Weekly Recap | April 18 – 22


Last year, more than 80 percent of oil and gas well completions in the United States were horizontal or directional, and although the total number of completed wells has fallen since 2010, U.S. crude oil production has more than doubled since then thanks to horizontal drilling. According to a new report released by the Energy Information Administration, the total number of completed oil and gas wells fell by 66 percent between 2010 and 2021 and total drilling length also dropped by 30 percent. However, U.S. crude oil production has more than doubled, and U.S. gross withdrawals of natural gas have increased by 55 percent thanks to technological improvements in the average footage of wells drilled. In fact, that length has more than doubled from 7,300 feet per well to 15,200 feet per well between 2010 and 2021. Check out this story and more in this week’s recap of all things happening in oil and gas! 

COVID-19 Updates

COVID-19 Statistics

  • Number of Cases (Worldwide): 508,178,483 (up from 503,081,868 last week)
  • Number of Cases (USA): 80,858,111 (up from 80,579,736 last week)
  • Statistics courtesy of Johns Hopkins

Financial & Economic Updates

U.S. Oil Market News

Global Market News

Employment Updates

  • Jobless Claims Hold Steady at 184,000 Last Week – the number shows the labor market recovery from the coronavirus continues

United States Rig Count

  • Up 2 from last week for a total of 695
  • Up 58.7% from one year ago
  • Statistics courtesy of Baker Hughes


Content UpdatesNews PulsePodcast

  • A new segment has arrived! Join RARE PETRO’s Anthony McDaniels and Tavis Kilian for a quick analysis of what may be hiding in the headlines in our newest series, The Wacky World of Energy! 

  • The western world shakes its fist in anger. “No more Russian energy! We will not fund this conflict!” is cried by world leaders all over Europe. What has been the effect so far? To answer that question, check out our latest Periodical

  • Episode Seventeen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with Cary Stockdell, CEO of Stockdell Stringer Leadership Solutions!

  • RARE PETRO is the tik talk of the town! Short-form content to educate both the public and industry professionals is available NOW! Check out our latest Tik Tok Video uncovering what Hollywood does not understand about a blowout. 

  • RARE PETRO and Rainmaker GBD collaborate on a monthly newsletter highlighting everything you need to know about the energy sector. This is a video interview with RARE PETRO’s Anthony McDaniels as he speaks on the biggest stories and dives a little bit deeper into supporting data. Welcome to the second edition of “Side Chat”

  • Grab a drink and join us for our newest segment, Thirsty Thursday: An Inventory Report to see if we’ve been poured another tall glass of crude and whether or not the U.S. was thirsty enough to suck down another round. 

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