• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 4 hours In a Nutshell...
  • 35 mins During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 2 hours Is OilPrice a cover for Green Propganda
  • 6 hours Putin Paid Militants to Kill US Troops
  • 2 hours Why Wind is pitiful for most regions on earth
  • 2 days Victor Davis Hansen on Biden's mental acuity " . . unfit to serve". With 1 out of 5 Democrats admitting it. How many Dem's believe it but will not admit it?
  • 22 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 2 days Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 50 mins Joe Biden to black radio host, " If you don't vote for me you ain't black". That's our Democratic Party nominee ?
  • 23 hours Happy 4th of July!
  • 21 hours Apology Accepted!
  • 2 days The Political Genius of Donald Trump
  • 3 days Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
Exxon May Finally Book Major Writedowns

Exxon May Finally Book Major Writedowns

ExxonMobil could write down the…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

U.S. Shale Oil Production Beats Estimates Again

Crude oil production in the U.S. shale patch will hit 7.59 million bpd next month, the Energy Information Administration said in its latest Drilling Productivity Report. This is 79,000 bpd more than this month’s estimated production.

The biggest increase, once again, will come from the Permian, where producers will add 31,000 bpd to overall daily production from the current 3.427 million bpd to 3.458 million bpd.

The second-largest contributor to the monthly increase will be the Eagle Ford, where the EIA estimates production will rise by 16,000 bpd to 1.449 million bpd in October.

Earlier this month, in its Short-Term Energy Outlook, the EIA reported preliminary production estimates suggest the United States had overtaken Russia as the world’s top crude oil producer, pumping 10.9 million bpd on average in August. Next year, the EIA estimated, daily production will hit an average of 11.5 million bpd, up from this year’s estimated 10.7 million bpd.

While some industry observers treat this robust production data with caution, arguing that shale oil producers are heavy laden with debt that will soon catch up with them, deterring further production expansion, for now field numbers seem to support EIA’s estimates. Related: Is The Shale Slowdown Overblown?

Recently, HFI Research forecast that the United States’ shale oil production would reach 9.66 million bpd in 2020, growing by a combined 3.84 million bpd between 2017 and 2020. This will only happen if pipeline bottlenecks in the Permian are dealt with, however. Should this happen quickly enough, the star play¬—along with the Eagle Ford and Bakken—will be the driver behind the overall shale production increase.

Right now, however, drillers in the Permian are being forced to sell their crude at a discount because production is growing faster than pipeline capacity. There are several projects in the works, however, as Texas seems to be free from a strong environmentalist lobby, which has been a thorn in the side of many of Alberta’s oil sands producers.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News