Production of oil and natural gas continues to grow in forecasts from U.S. Energy Information Administration. In its latest drilling productivity report this week, EIA said oil production is expected to grow by 30,000 barrels per day in March to 5.682 million b/d from 5.652 million b/d in February. Overall in seven major producing regions in U.S., production is expected to grow to 9.357 million b/d in March from 9.282 million b/d in February. Six of seven basins are forecast to grow oil production (Haynesville again is expected to be flat).
Gas production in Permian is forecast to grow by 97 million cubic feet per day in March to 22.209 billion cfd. Appalachia remains the leader with 35.098 billion cfd (up from 35.018 billion in February), and the largest growth expected in March is 131 billion cfd to 16.602 billion cfd in Haynesville. Overall, forecast of gas production for March is 96.591 billion cfd after 96.165 billion cfd in February.
EIA said Feb. 13 the number of drilled but uncompleted wells (DUC) in seven regions was up 42 in January to 4,671 from 4,629 in December. That includes an increase of 4 in Permian Basin from 1,079 in December to 1,083 in January.