According to this report, water produced during oil and gas operations constitutes the industry"s most prolific product. By volume, water production represents approximately 98% of the non-energy related fluids produced from oil and gas operations, yielding approximately 14 billion barrels of water annually. When compared to the annual oil (1.9 billion barrels) and gas (23.9 TCF) production across the United States, the argument could be made that the oil and gas produced would be more appropriately identified as a by-product to the production of water.