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Production from major US onshore oil regions to rise 124,000 b/d in May Back ->

Time: 2018-01-19



The seven major onshore producing regions in the US are expected to collectively increase oil output by 124,000 b/d month-over-month in May to average 5.193 million b/d, according to the US Energy Information Administrations latest Drilling Productivity Report.

 

The monthly DPR tracks the total number of active drilling rigs, drilling productivity, and estimated changes in production from existing oil and natural gas wells in the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica. The seven regions accounted for 92% of domestic oil production growth and all domestic gas production growth during 2011-14.

The regionsproduction rebound has been gaining steam each month this year, led by an industrywide focus on the Permian basin, where oil output is expected to increase 76,000 b/d month-over-month in May to 2.362 million b/d. The neighboring Eagle Ford, the site of a more recent resurgence, is forecast to rise 39,000 b/d to 1.216 million b/d.

Baker Hughes Inc.s most recent data indicate the Permian has added 205 rigs since May 13, 2016, and now totals 339 (OGJ Online, Apr. 13, 2017). The Eagle Ford has added 44 units since Oct. 14, 2016, and now totals 75. Drilled but uncompleted (DUC) wells have multiplied in the two regions. The Permian gained 90 DUC wells month-over-month in January and now totals 1,864, while the Eagle Ford rose by 26 during the month and now has 1,285.