The latest Drilling Productivity Report from the U.S. Energy Information Administration forecasts crude oil production in Permian Basin to remain above 4 million barrels per day in May. The April 15 report says Permian production is expected to grow to 4.136 million b/d in May from 4.094 million b/d in April – 53 percent of oil production growth in May across seven major regions of U.S. The U.S. is expected to grow 80 million b/d to a record 8.460 million b/d in May from 8.380 million b/d in April.
Permian remains runner-up to Appalachia in natural gas production, according to the EIA report. U.S. is forecast to grow by 907 million cubic feet per day in May to 79.837 Bcfd. Appalachia is expected to grow by 353 million cubic feet per day (39 percent of growth) in May to 32.215 Bcfd, and Permian is expected to grow by 227 million cubic feet per day (25 percent of growth) in May to 14.117 billion cubic feet per day.
Permian Basin added another 49 DUC wells (drilled but uncompleted) in March to reach above 4,000 at 4,021 – 47 percent of the U.S. total of 8,500 DUC wells.