In the latest drilling productivity report from U.S. Energy Information Administration, Permian Basin continues to grow production of crude oil and natural gas. EIA said Monday that oil production in Permian will grow by 13,000 barrels per day from 5.681 million b/d in April to 5.694 million b/d in May. Across the seven major producing regions in U.S., oil production will increase by 49,000 b/d from 9.279 million b/d in April to 9.328 million b/d in May. Six of the seven regions are forecast to add oil production.
Production of natural gas in Permian is forecast to increase by 77 million cubic feet per day from 22.437 billion cfd in April to 22.514 billion cfd in May. All seven regions are expected to grow production of natural gas, led by an additional 94 million cfd in Haynesville to 16.821 billion cfd. Appalachia continues to lead in gas production with 35.281 billion cfd in May – up 48 million cfd from 35.233 billion cfd in April. Across the seven regions, production of natural gas is expected to grow by 332 million cfd in May to 97.167 billion cfd from 96.835 billion cfd in April.
EIA said three regions – Permian and Eagle Ford in Texas and Bakken – recorded fewer DUC wells (drilled but uncompleted) in March than in February. Permian declined by 32 DUC wells from 793 in February to 761 in March. Anadarko, Appalachia, Haynesville and Niobrara added DUC wells in March. Across the seven regions, there were 4,676 DUC wells in March after 4,686 in February for a decline of 10.