Recent improvements in hydraulic fracturing technology have lowered oil and gas production costs, which in turn enable the industry to drill more wells and increase production, Adam Sieminski, the administrator of the US Energy Information Administration, said Tuesday. The changes are also making it harder for federal statisticians to keep up and make reasonable projections on future production. Those changes were a major reason why the most recent EIA Energy Outlook underestimated on oil production in 2014, he said. Speaking before the Natural Gas Roundtable in Washington, Sieminski said predicting how much natural gas will be put in storage this year is a challenge. A significant unknown is whether there will be the summertime equivalent of a polar vortex. The three polar vortexes in January caused record low temperatures and unprecedented demand for natural gas. Article continues below… Gas Daily offers the most detailed […]

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