Crude oil production to grow in Permian to 4.727 million b/d in December

Production of crude oil in Permian Basin is expected to grow another 57,000 barrels per day in December, according to the U.S. Energy Information Administration, to reach 4.727 million b/d while other regions contract. Seven major producing regions will grow by a total of 49,000 barrels per day in December to 9.133 million b/d. Natural gas production for December in seven major regions is forecast to grow by 263 million cubic feet per day to 85.193 billion cubic feet per day. Most of that growth (223 million cubic feet per day) is expected to come from Permian, which will grow to 16.493 billion cubic feet per day. Appalachia continues to lead in gas production with 33.720 billion cubic feet per day in December (up 46 million from November).
Also in the Drilling Productivity Report of Nov. 18, the EIA said Permian Basin reported 45 fewer well completions in October (3,589) than September. There were 225 fewer well completions in U.S. in October (7,642) than in September in the seven major regions.