US Shale Production to Rise on Projected Permian Basin Boost

The projected increase in oil and gas production follows recent reports by the EIA of a sharp decline in the DUC count in all major U.S. shale regions.

US Shale Production to Rise on Projected Permian Basin Boost

On a year-over-year basis, only the Permian Basin is expected to see an increase in oil production, with volumes up 503,150 bbl/d, or 12%, says Enverus’ Erin Faulkner. (Source: Photo collage by Hart Energy; images from Hart Energy, Shutterstock.com)

Oil and gas production from major U.S. shale plays is expected to rise in October, largely driven by an anticipated increase in Permian Basin output, according to the latest forecast by the Energy Information Administration (EIA).

For the seven key shale regions included in the EIA’s monthly Drilling Productivity Report, the government agency is forecasting oil output will rise 66,000 bbl/d sequentially to 8.135 million bbl/d in October. Similarly, the EIA predicts shale gas volumes will increase 219 MMcf/d to 87.339 Bcf/d.

The projected increase in production follows recent reports by the EIA of a sharp decline in DUCs in all major U.S. shale regions. The DUC well inventory typically “functions as a necessary buffer between drilling activities and oil demand,” the EIA noted in a supplement to its Drilling Productivity Report.

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Emily Patsy

Emily Patsy is the senior managing editor for Hart Energy’s Digital News Group. She's responsible for the daily news flow and also manages the A&D Watch and Energy Pulse weekly newsletters.