Oil production in Permian Basin is forecast to grow to 4.888 million b/d in November from 4.826 million b/d in October, according to the drilling productivity report of Oct. 18 by U.S. Energy Information Administration. Five of the seven major producing regions are expected to increase oil production next month with overall growth of 77,000 b/d to 8.219 million b/d.
Six of the seven regions are expected to increase production of natural gas, led by Haynesville, which is expected to add 135 million cfd to 13.649 billion cfd. Permian will grow by 78 million cfd to 19.105 billion cfd, and Appalachia will add 41 million cfd to 34.879 billion cfd. Total production for the seven regions is expected to be 87.924 billion cfd – up by 257 million cfd in November.
Count of drilled but uncompleted wells (DUC) continues to decline. There were 5,385 DUC wells in September in seven regions – down from 5,626 in August. Permian dropped 125 DUC wells from 1,994 in August to 1,869 in September.