U.S. Energy Information Administration forecasts continued growth in production of crude oil in Permian Basin and the seven major producing regions in its latest drilling productivity report. EIA said last week it expects production of 5.596 million barrels per day in March and 5.622 million b/d in April for a growth of 26,000 b/d. Across the seven regions, production is expected to grow by 68,000 b/d to 9.214 million b/d in April after 9.146 million b/d in March. Six of the seven regions are forecast to increase (flat again in Haynesville).
Production of natural gas also was forecast by EIA March 13 to grow in seven regions to 96.622 billion cubic feet per day in April after 96.202 billion cfd in March for an increase of 420 million cfd. Appalachia remains the gas production leader with 34.954 billion cfd in April – up 75 million cfd from 34.879 billion cfd in March. Permian is forecast to increase by 93 million cfd in April to 22.496 million cfd after 22.403 million cfd in March. Largest growth for April again comes from Haynesville – up 113 million cfd to 16,803 million cfd in April.
Across the seven regions, DUC wells (drilled but uncompleted) increased to 4,773 in February from 4,752 in January. Permian is the DUC well leader with 1,044 in February after 1,042 in January. Anadarko is runner-up in DUC wells with 736 in February.