Crude oil production in seven major regions tops 8.5 million b/d in August

Crude oil production in seven major regions of the U.S. is expected to top 8.5 million barrels per day in August, according to the latest drilling productivity report from U.S. Energy Information Administration. EIA said production will increase by 49,000 barrels per day this month to 8,546,000 b/d. Permian Basin is forecast to provide 69 percent of the increase (growth of 34,000 b/d to 4,206,000 b/d in August after 4,172,000 b/d in July).
Gas production is forecast to grow to 81.958 billion cubic feet per day in August after 81.213 bcfd in July in seven regions. More than half of the increase (53 percent or 396 million cubic feet per day) will come from Appalachia to 32.969 billion cubic feet per day. Haynesville will contribute 23 percent of growth (to 11.277 billion), and 21 percent of growth is expected to come from Permian Basin to 14.704 million cubic feet per day.
Permian Basin remains the leader in drilled but uncompleted wells (DUC) – now more than 4,000 DUC wells with a June count of 4,002 after 3,960 in May. EIA said there were 8,248 DUC wells in the seven regions in June – down from 8,289 DUC wells in May.