U.S. crude oil production grew by 270,000 barrels per day in 2024 to average 13.2 million b/d, according to the latest Petroleum Supply Monthly from U.S. Energy Information Administration. EIA said April 16 most of the growth came from Permian Basin. EIA reported, “In 2024 the Permian region … produced more crude oil than any other region, accounting for 48 percent of total U.S. crude oil production. Permian region production also accounted for almost all the growth in 2024, rising by 370,000 b/d compared to 2023 to average 6.3 million b/d.”
Permian averaged 308 active drilling rigs in 2024 to account for more than half the rigs in operation (26 fewer rigs than in 2023). Even with the lower rig count, Permian production grew because well productivity improved.
Production in Eagle Ford and Bakken remained relatively flat in 2024; each produced about 9 percent of the U.S. total. Rig count in Eagle Ford fell by 9 rigs to average 54, and rig count in Bakken fell by 2 to average 34 in 2024.