April 29, 2025--Written by Daniel Graeber for Industrial Info Resources (Sugar Land, Texas)--Amid a string of reports of a rough first quarter for upstream services firms, Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) data show exploration activity in the United States remains subdued relative to year-ago levels. The United States is the world leader in crude oil production, natural gas production and exports of liquefied natural gas (LNG). A boom in production from inland shale basins in the early 2000s helped with the ascendency. From 2024 levels, total crude oil production is on pace to increase 2.3% to average 13.5 million barrels per day this year and gas is on pace for a year-on-year increase of 2% to average 115.4 billion cubic feet per day. Other companies featured: SLB (NYSE:SLB), Halliburton Company (NYSE:HAL)
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