Another month of declining production of crude oil and natural gas is forecast by U.S. Energy Information Administration. In the Oct. 13 drilling productivity report, production of crude oil in the nation’s seven major regions is expected to decline by 121,000 barrels per day in November from previous month to 7,692,000 b/d. None of the seven regions is forecast to increase oil production in November. Permian is expected to decline by 17,000 b/d to 4,365,000 b/d, and Eagle Ford is expected to lead the regions with a decline of 34,000 b/d to 1,014,000 b/d.
Natural gas production in seven regions is forecast to decline by 617 million cubic feet per day from previous month to 81.785 billion cfd in November. Appalachia is expected to decline by 149 million cfd to 33.646 billion cfd, and Permian is forecast to decline by 74 million cfd to 16.679 billion cfd.
EIA also reported the number of drilled but uncompleted wells continues to decline. There were 7,592 DUC wells in September in seven regions compared to 7,669 in August. That includes 3,525 DUC wells in Permian in September (3,546 in August). Eagle Ford had 1,166 DUC wells in September (1,181 in August).