Earlier this month, the Organization of Petroleum Exporting Countries (OPEC) confirmed that it has been surprised by the rapid growth of oil production among nations outside of the cartel, particularly in North America.
On December 10, OPEC released its monthly report on the global oil market, in which it predicted that non-member countries would show an increase in their total production of about 1.2 million barrels per day (bpd) when final statistics are calculated at the end of 2013. Not only is this increase "better than initially expected," it is forecast to occur again at nearly the same rate next year.
"Growth is supported mainly by the United States and Canada," OPEC reported, noting that more than 80 percent of the increase in production seen during 2013 came from these two countries.
This has made the U.S. and Canadian economies more robust and less dependent on oil imports from abroad. However, as their traditional petroleum suppliers make arrangements with new customers, it will be increasingly important for operators of oil and gas wells in these nations to keep their output steady, as supply disruptions could put a damper on growth.
New technologies can help companies maintain high production levels at their properties. The hydraulic jet pump is especially valued by well operators because it can be successfully deployed at virtually any site, whether the well is vertical, horizontal or deviated. This versatile solution can even be used to restart production or improve recovery rates at sites where issues with the completion of well casing make other pumps impractical.