EIA: US Shale Output To Rise In June

Reuters

NEW YORK, May 12 (Reuters) - Oil production across U.S. shale fields will likely rise by 75,000 barrels-per-day in June after rising nearly as much in May, monthly estimates from the Energy Information Administration (EIA) showed on Monday.

The largest increase will be recorded in the south Texas Eagle Ford shale, where output will rise by just over 26,000 bpd to about 1.4 million bpd between May and June, according to EIA's drilling productivity report.

Bakken oil production will rise to just under 1.1 million bpd in June, some 22,000 bpd above a month earlier.

The Permian basin in West Texas and New Mexico will produce 1.5 million bpd next month, about 21,000 bpd higher than May figures.

Meanwhile, gas production will rise 0.48 billion cubic feet month-over-month to 39.3 bcf in June, EIA's estimates show.

The drilling report is based on drilling rigs data and estimates of changes in production from existing wells. Oil output figures include condensate production.

(Reporting by Selam Gebrekidan; Editing by Nick Zieminski and Chris Reese)

Copyright 2017 Thomson Reuters. Click for Restrictions.

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