EIA Projects August US Shale Oil Production at 8.546M Bpd
7/15 2:48 PM
EIA Projects August US Shale Oil Production at 8.546M Bpd ORANGE BEACH, Ala. (DTN) -- The Energy Information Administration today said it projects tight shale oil production in seven key U.S. producing regions will average 8.546 million bpd in August, up 49,000 bpd or 0.6% from 8.497 million bpd in July. In its latest monthly Drilling Productivity Report, EIA projects oil production in the Permian Region will increase by 34,000 bpd or 0.8% to an average of 4.206 million bpd in August while production in the Eagle Ford Region is expected to decrease by 1,000 bpd to 1.382 million bpd. Oil production in the Bakken Region is forecast to rise 7,000 bpd or 0.5% to 1.442 million bpd in August while Niobrara Region is projected to grow 10,000 bpd or 1.4% during the month to an average of 746,000 bpd. EIA expects oil production per new drilling rig in the seven key production regions will rise from an average of 705 bpd in July to 715 bpd in August, up by 1.4% from the month prior. The agency forecasts the productivity of new rigs that drill for oil in the Permian Region in August at 684 bpd, up 12 bpd or 1.8% from July. New-well oil production in the Bakken Region is projected to increase by 15 bpd or 1.1% to an average of 1,424 bpd in August. Oil production for newly drilled wells in the Anadarko Region is forecast to rise by 6 bpd or 1.4% to 443 bpd while Eagle Ford Region new-well oil output is projected to increase by 4 bpd or 0.3% to an average of 1,350 bpd. EIA forecasts U.S. natural gas production will average 81.958 Bcf/d in August, up 745 MMcf/d or 0.9% from 81.213 Bcf/d in July, with Appalachia Region production up by 396 MMcf/d or 1.2% in the month to 32.969 Bcf/d. Permian Region natural gas production is projected at 14.704 Bcf/d in August, up 157 MMcf/d or 1.1% from July. EIA forecasts natural gas production in the Haynesville Region will climb 172 MMcf/d or 1.5% to an average of 11.277 Bcf/d in August while Eagle Ford Region output is expected to edge 2 MMcf/d higher during the month to an average of 6.848 Bcf/d. EIA forecasts natural gas production in the Anadarko Region will extend lower in August, dropping an estimated 54 MMcf/d to 7.511 Bcf/d in the month. The agency projects natural gas production per new drilling rig will fall by 10 Mcf/d in August to an average of 4.054 MMcf/d with new-well output in the Appalachia Region down 5 Mcf/d at an average of 17.831 MMcf/d in the month. The agency projects natural gas production from newly drilled wells in the Permian Region in August at 1.217 MMcf/d, up 6 Mcf/d or 0.5% from July, while Eagle Ford Region new-well natural gas output is expected to rise by 12 Mcf/d or 0.2% to 4.836 MMcf/d in the month. In the Niobrara Region, new-well gas production per new drilling rig is forecast at 4.476 Bcf/d in August, up 28 Mcf/d or 0.6% from the month prior. EIA data shows the number of drilled but uncompleted wells declined for the fourth consecutive month, dropping from the 41 counted in May to 8,248 in June. DUCs in the Permian Region were increased by 42 to 4,002 in June, agency data shows. Eagle Ford Region DUCs edged up 1 in May to 1,519 in June while in the Appalachia Region DUCs fell 15 in the month to 432. Agency data showed Anadarko Region DUCs dropped 29 to 939 in June while Bakken Region DUCs declined by 15 to 694 during the month. DUCs in the Niobrara Region fell 22 to 473 in June, EIA data shows. (c) 2019 DTN. All rights reserved.