Oil production from the Bakken Shale in North Dakota and the Eagle Ford Shale in Texas rose by 45,000 barrels per day (bbl/d), or 1.6%, in December, said Bentek Energy in a Jan. 15 release.
In the Eagle Ford in South Texas, December production levels reached 1.6 million bbl/d for a 40% increase from December 2013 levels, according to Bentek Energy’s manager of energy analysis Catherine Bernardo.
“While low crude prices persevere, producers are indeed being faced with budget constraints and restricted drilling programs for 2015,” she said. “Some producers will be insulated from low prices in the near term due to hedging programs and existing service contracts, while others will be forced to focus their efforts on the best acreage within their asset portfolios.”
From December 2013 to December 2014, total U.S. crude oil production rose by 1.5 million bbl/d, according to Bentek analysis.
In the Bakken Shale formation of the Williston Basin in North Dakota, crude oil production averaged 1.2 million bbl/d in December, an increase of 296,000 bbl/d from December 2013 levels.
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