According to the latest data from the U.S. Energy Information Administration (EIA) Short-Term Energy Outlook, U.S. crude oil production is expected to be 13.22 million barrels per day this year and 13.54 million barrels per day in 2025. U.S. crude oil production is expected to continue to grow.
From the perspective of technological progress, with the further iteration and upgrading of traditional shale oil development technologies such as horizontal well drilling and staged fracturing, the cost of oil and gas production can be effectively reduced, and the production efficiency of oil wells can be improved. Pumping perforation is one of the core technologies in the completion phase of shale oil development. Perforation is used to segment horizontal wells, and then staged fracturing is carried out, which complements the fracturing business and provides benefits for oil and gas production. With the continuous updating and upgrading of technology, the production of shale oil in the United States is expected to achieve sustained growth.
From the perspective of upstream investment, since 2022, most oil and gas companies in the United States have completed the transformation from "focusing on production" to "focusing on efficiency", which can not only return profits to shareholders stably through regular or variable dividends and stock repurchases, but also lay a capital foundation for attracting investment and maintaining long-term stable growth. The long-term and stable development of oil and gas companies will provide a solid guarantee for the growth of crude oil production in the United States.
The Wireline Group, the North American subsidiary of the Group, is mainly engaged in pumping perforation business. Its perforation technology has reached the world's leading level, and its service operation capabilities are widely praised by customers, establishing a solid industry position. With the vigorous development of the US oil and gas industry, The Wireline Group is expected to benefit from it, and its future development is promising.
