• 3 minutes Australian power prices go insane
  • 7 minutes Wind droughts
  • 11 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 46 mins Is Europe heading for winter of discontent with extensive gas shortages?
  • 23 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours Hopes Are Dashed For International Oil Companies In North Iraq
  • 4 hours 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 1 day "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 2 hours The United Nations' AGENDA 2030 - The vision for One World Governance ...an article by the famous Dr Robert Malone
  • 4 days Changing Gazprom ADRs to Russian shares
  • 2 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

EIA: U.S. Shale Production To See Sizeable Increase In May

U.S. Shale production in the seven most prolific shale basins is set to increase 132,000 bpd in May to 8.649 million bpd, according to the Energy Information Administration’s latest Drilling Productivity Report published on Monday.

It would be the largest monthly production increase since March 2020, according to EIA data.

The largest increase is expected to come from the Permian basin, increasing just 82,000 bpd from an estimated 5.055 million bpd in April 2022 to 5.137 million bpd next month. The EIA has forecast that the second largest gainer will be the Eagle Ford, which it expects will see an increase of 26,000 bpd, to 1.166 million bpd in May.

Source: EIA DPR

The EIA also estimated in the Drilling Productivity Report that Drilled but Uncompleted (DUC) wells had slipped from 4,387 in February to 4,273 in March—the lowest it’s been in over a decade. The DUC count has been steadily declining in each of the previous 21 months, since July 2020 when the DUC count was nearly double what it is today.

Gas production is also set to increase in May 2022, from 90,105 mcf/d in April to 90,826 mcf/d in May, with the largest gains seen from Haynesville (245 mcf/d) and Appalachia (+197 mcf/d).

U.S. shale production has found itself in the spotlight since gasoline prices began rising last fall, as end consumers continue to bemoan high gasoline prices. The scrutiny on the industry has only intensified since Russia invaded Ukraine, as Russian crude and gas buyers look for alternate suppliers for their energy needs.

In the EIA’s previous DPR, the agency had estimated that total production from the seven major U.S. shale basins would rise by 117,000 in April to reach 8.708 million bpd—191,000 bpd above where April figures actually landed.

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News