EIA forecasts increase of 84,000 b/d in July to 5.316 million b/d in Permian

Production of crude oil is forecast to grow to 5.316 million barrels per day in July in Permian Basin by U.S. Energy Information Administration. That’s an increase of 84,000 b/d over June production of 5.232 million b/d. Across the seven major producing regions in U.S., EIA said June 13 in its latest drilling productivity report that total oil production is expected to grow by 143,000 b/d from 8.758 million b/d in June to 8.901 million b/d in July.
EIA forecasts natural gas production will increase from June by 781 million cfd in July to 92.282 billion cfd. Appalachia remains the largest gas producer with a July forecast of 35.386 billion cfd after 35.155 billion cfd in June (up 231 million cfd). Permian is expected to grow by 165 million cfd in July to 20.392 billion cfd.
Permian Basin continues to lead in drilled but uncompleted wells in the seven regions with 1,257 in May – down 37 from April. EIA said there were a total of 4,249 DUC wells in May – down 46 from 4,295 from April.