Crude oil production in Permian Basin continues to grow in forecasts by U.S. Energy Information Administration. EIA said in its drilling productivity report of April 18 that production in May in Permian Basin is expected to reach 5.137 million barrels per day – 82,000 above April production of 5.055 million b/d. Across the seven major producing regions, oil production is forecast to grow by 132,000 b/d since last month to 8.649 million b/d. Eagle Ford is forecast to grow by 26,000 b/d in May to 1.166 million b/d, and Bakken is forecast to grow by 17,000 b/d in May to 1.186 million b/d.
Natural gas production is forecast to grow by 721 million cfd in May to 90.826 billion cfd across the seven major producing regions. Gas production in Permian Basin is forecast to grow by 154 million cfd in May to 19.687 billion cfd. Gas production leader remains Appalachia, which is forecast to grow by 197 million cfd to 35.640 billion cfd. Largest increase expected in May is 245 million cfd in Haynesville to 14.772 billion cfd.
EIA’s count of drilled but uncompleted wells (DUC) continues to decline. In March the DUC count in Permian fell by 71 to 1,309. In seven regions, there were 4,273 DUC wells in March – down by 114 from 4,380 DUC wells in February.