• 4 minutes The Federal Reserve and Money...Aspects which are not widely known
  • 8 minutes How Far Have We Really Gotten With Alternative Energy
  • 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ?
  • 1 hour GREEN NEW DEAL = BLIZZARD OF LIES
  • 10 hours Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days Once seen as fleeting, a new solar tech proves its lasting power
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 16 hours Bloomberg - "Hedge Funds Hit by ‘Onerous’ ESG Rule Turn to Lawyers for Help"
Julianne Geiger

Julianne Geiger

Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group.

More Info

The Star Permian Basin Sends US Shale Production Up, Up And Away

US oil production from the top seven major shale plays is set to reach new record heights in June, according to the US Energy Information Administration’s latest edition of its Drilling Productivity Report

Oil production

Production from the top seven plays will increase by 83,000 barrels per day in June from May 2019 levels, with the largest increase seen in the Permian Basin, which is set to increase from 4.117 million barrels of oil per day to 4.173 million barrels per day (+56,000). The second largest increasing region according to the report is the Bakken.

Gas production

Just as noteworthy, gas production is also set to increase in these seven plays, from 79.720 million cubic feet per day in May to 80.663 million cubic feet per day in June, with the Appalachia region seeing the largest increase, followed by Haynesville and then the Permian.

DUCs

The monthly productivity report also monitors drilled but uncompleted wells (DUCs), which fell in April to 8,390 from 8,433 in March. Only one region saw any noteworthy increase in DUCs, and that was the Permian.

The Permian Has It

The Permian is set to increase not just oil and gas production in total, but new-well oil production per rig as well, more than offsetting the drop in legacy oil production in the region. The Permian basin now accounts for one third of the total crude oil output in the United States. And at the 4.173 million bpd the EIA is predicting for June, the Permian Basin, if it were a member of OPEC, would be the cartel’s No.3 producer, above the UAE (3.059 million bpd) and Kuwait (2.709 million bpd), and just slightly under OPEC’s No.2, Iraq (4.522 million bpd).

 

Source: EIA Monthly Drilling Productivity Report

By Julianne Geiger for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



Leave a comment
  • Aslan Aslan oglu on May 15 2019 said:
    Thank you for valuable information
  • Oil Man on May 13 2019 said:
    It's worth noting that they revised May lower from 8,460 to 8,412. So, of that 83kbd jump in production, 48kbd was due to a downward revision of the previous month.

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