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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Production expected to decline again, Permian falls to 5.799 million b/d in Sept

August 18, 2023 by PBOG

After record production in July, U.S. Energy Information Administration forecasts a decline in crude oil production in 7 major regions in September for the second straight month.  EIA said Monday in its latest drilling productivity report that production in September is expected to be 9.415 million b/d – a decline of 20,000 b/d from 9.435 million b/d in August.  Permian’s production is forecast to fall 13,000 b/d to 5.799 million b/d in September from 5.812 million b/d in August.  Bakken is forecast at 1.210 million b/d (up 4,000), and Eagle Ford is forecast at 1.109 million b/d (down 11,000).

Production of natural gas also is expected to decline in September in 7 regions to 98.262 billion cfd from 98.409 billion cfd in August.  Gas production leader Appalachia is expected to decline by 22 million cfd to 35.748 billion cfd.  Gas production in Permian Basin is expected to increase by 35 million cfd in September to 23.667 billion cfd.

EIA said the number of DUC wells (drilled but uncompleted) fell in July to 4,787 from 4,792 in June.  The DUC count in Permian Basin remained unchanged at 856 in July.

 

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