Crude oil production in Permian Basin is forecast by U.S. Energy Information Administration to decline next month by 30,000 barrels per day. In the latest drilling productivity report of Oct. 16, EIA said oil production in Permian is expected to be 5.901 million barrels per day in November after 5.931 million b/d in October. Overall in seven major regions production is expected to decline to 9.553 million b/d in November after 9.603 million in October for a decline of 50,000 b/d. The only region expected to grow oil production in November is Niobrara – up 4,000 to 684,000 b/d. Bakken and Haynesville are forecast to be unchanged from October to November.
Overall in seven major regions production of natural gas also is forecast to decline despite gains in Permian, Bakken and Niobrara. In seven regions production of gas is forecast at 98.808 billion cfd in November after 99.259 billion cfd in October for a decline of 451 million cfd. Permian is expected to add 16 million cfd to reach 24.102 billion cfd in November. Appalachia continues to lead in natural gas production despite a decline of 194 million cfd in November to 35.505 billion cfd.
EIA also reported another decline in DUC wells (drilled but uncompleted) in September. There were 4,681 DUC wells in September after 4,735 DUC wells in August. Only Haynesville added DUC wells in September – up 5 to 737. DUC wells in Permian declined from 849 in August to 839 in September.