Crude production in seven major regions of U.S. is forecast to continue growing in December by U.S. Energy Information Administration. EIA said in its latest drilling productivity report Nov. 14 that production is expected to grow by 91,000 b/d from November to 9.191 million b/d in December. That includes a record 5.499 million b/d in Permian – up 39,000 b/d from 5.460 million b/d in November.
Production of natural gas also is forecast to increase in December by 564 million cfd to 95.687 billion cfd in seven major regions. Appalachia is the leader with 35.569 billion cfd – up 135 million cfd from November. Permian is expected to grow by 125 million cfd to 21.268 billion cfd.
The number of DUC wells (drilled but uncompleted) increased for the first time in more than two years, according to Enverus, “as drilling rigs have become easier to find than pressure pumping spreads… The 2020 surge in DUCs came during the covid crude price collapse as E&P companies kept rigs under contract but avoided completions to restrain production.” EIA said there were 4,400 DUC wells in September and 4,408 in October in seven regions. That includes 1,084 DUC wells in Permian in October – down 13 from 1,097 DUC wells in September.
