Alberta drilled over 2k wells last year and their production is dead flat. When a oil well starts drying up there are numerous ways to jack up production. A gas well is like a ballon....great for a while and then instant deflation....
That Saudi field, Ghawar, largest in the world, was discovered 1948. The five super giant fields were all discoved between 1940 and 1965. Ghawar is now daily injecting over a million gallons of seawater, and the pumped oil is now 30% water which drives up the cost.
Look for some real increases in price in the next few years
Prudhoe has been reinjecting gas since the beginning. They have a flare, of course, but their reserve of natural gas is hugh, maybe more Btus than the oil. Still finite, though.