Oil output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 88,000 bbl/d to a record 5.219 million bbl/d in June, the U.S. Energy Information Administration (EIA) said in its productivity report on May 16.
Total output in the major U.S. shale oil basins will rise 142,000 bbl/d to 8.761 million bbl/d in June, the most since March 2020, the EIA projected.
In the Bakken in North Dakota and Montana, EIA projected oil output will rise 17,000 bbl/d to 1.189 million bbl/d in June, the most since December 2020.
In the Eagle Ford in South Texas, output will rise 27,000 bbl/d to 1.176 million bbl/d in June, its highest since April 2020.
Total natural gas output in the big shale basins will increase 0.8 Bcf/d to a record 91.8 Bcf/d in June, the EIA forecast.
In the biggest shale gas basin, output in Appalachia in Pennsylvania, Ohio and West Virginia will rise to 35.7 Bcf/d in June, its highest since hitting a record 36 Bcf/d in December 2021.
Gas output in the Permian Basin and the Haynesville in Texas, Louisiana and Arkansas will rise to record highs of 20 Bcf/d and 15.1 Bcf/d in June, respectively.
But productivity in the biggest oil and gas basins has declined every month since setting records of new oil well production per rig of 1,544 bbl/d in December 2020 in the Permian Basin, and new gas well production per rig of 33.3 MMcf/d in March 2021 in Appalachia.
In June, EIA expects new oil well production per rig will drop to 1,129 bbl/d in the Permian Basin, the lowest since August 2020, and new gas well production per rig will drop to 28.5 MMcf/d in Appalachia, the lowest since September 2020.
EIA said producers drilled 874 wells and completed 944, both the most since March 2020, in the biggest shale basins in April.
That left total DUCs down 70 to 4,223, the lowest since at least December 2013, according to EIA data going back that far. The number of DUCs available has fallen for 22 consecutive months.
2022-11-21 - Changing capital cost models make e-frac systems within reach for more operators, according to Baker Hughes’ Steve Goldstein.
2022-11-01 - Small nodal system provides high-res data with a light footprint and reduced cost, seismic companies Polaris and STRYDE report.
2022-10-24 - Here’s a roundup of the latest E&P headlines including a reserves update in the Western South China Sea and a FLNG conversion announcement from the past week in the upstream oil and gas industry.
2022-09-20 - Here’s a roundup of the latest E&P headlines including a new EIS for a project in Australia to contract awards around the globe from the past week in the upstream oil and gas industry.
2022-10-10 - Here’s a roundup of the latest E&P headlines including a new Algerian project going onstream, a commercial gas find offshore Israel and regulatory updates from Australia, the U.S. and Norway from the past week in the upstream oil and gas industry.