EIA: Permian to supply 68 percent of oil production growth in February
Thursday, January 25, 2018
The Permian Basin will supply more than two-thirds of February’s gain in crude oil production across seven major regions in the U.S., according to the latest Drilling Productivity Report from the U.S. Energy Information Administration. The U.S. is forecast to add another 111,000 barrels per day in February to reach 6.549 million barrels per day with 68 percent of the increase coming from the Permian Basin. EIA forecasts Permian production will grow by 76,000 b/d to reach 2.87 million barrels per day. The Eagle Ford will add 15,000 b/d to 1.257 million b/d.
Leading the growth in gas production in February will be Appalachia (up 377 million cubic feet per day to 26.778 bcfd) and Permian (up 209 million cubic feet per day to 9.794 bcfd). The EIA said the seven plays will gain 890 million cubic feet per day in February to 64.071 bcfd in gas production.
The Permian Basin remains the U.S. leader in drilled but uncompleted wells (DUC) with 2,777 after adding 137 in December. Across the U.S., there are 7,493 DUC wells, including 1,468 in Eagle Ford and 1,022 in Anadarko.