International Energy Agency’s “Net Zero by 2050” roadmap calls for the United States to produce at least 8 million barrels of oil equivalent (MMBoe) per day through 2050 to support the energy transition.
Currently, the US produces 25 MMBoe per day from 2 million onshore US existing wells.
Current production generates 300 million tons of CO2e per year.
Most oil and gas companies are still focused on maintaining or growing production through drilling, not reducing production along natural declines.