Daily Management Review

US expects production growth in the country's largest oil and gas areas


Oil production in the main US oil and gas producing areas, a large part of which is shale oil, will rise by 85,000 barrels per day, or 1%, to 8.316 million barrels in December compared with the current month, the Energy Information Administration (EIA) of the country's Energy Department has forecast.

Tim Evanson
Tim Evanson
In particular, production in the Permian Basin would rise by 67,000 barrels to 4.953 million barrels per day, while production in the Bakken and Eagle Ford would rise by 5,000 barrels to 1.142 million and 1.083 million barrels respectively. In Niobrara field production will increase by 4 thousand, to 612 thousand barrels per day.

At Appalachia and Anadarko it will increase by 2 thousand, to 368 and 124 thousand bpd respectively. EIA also expects production at Haynesville to remain unchanged at 34,000 bpd.

Also, the EIA expects total gas production from all of these fields to increase by 226 million cubic feet per day in December to 89.376 billion cubic feet per day. The total number of uncompleted wells in the US area in question fell by 222 in October compared with September, to 5,104.

Drilled but uncompleted wells (DUC) are wells drilled but not yet set up for production. A large DUC reserve could allow US producers to ramp up production quickly and at scale if oil prices rise, regardless of the pace of drilling activity.

source: eiv.gov