EIA: US Shale Output Seen Posting 9th Straight Monthly Rise



Reuters

NEW YORK, Aug 14 (Reuters) - U.S. shale oil production for September which includes a new regional data input, is forecast to rise by 117,000 barrels per day to 6.15 million bpd, its ninth consecutive monthly rise, the U.S. Energy Information Administration said on Monday.

The total forecast figure has expanded to include the Anadarko region, a growing and prolific shale play that has the second-most operating rigs, at 129, after the Permian's 373, according to the EIA's monthly drilling productivity report.

The EIA added that the region has become "the target of many producers using improved drilling and completion technology to this already well-established oil and gas producing basin."

Meanwhile, the EIA is combining the Marcellus and Utica regions into a new Appalachia region to help the precision of its productivity estimates.

Without the addition, total shale output for September would have been forecast to rise by 106,000 bpd to 5.69 million bpd.

In the Permian Basin, oil output is set to rise by 64,000 bpd to 2.6 million bpd. In the Eagle Ford, oil output is forecast to rise by 14,000 bpd to 1.39 million bpd.

In North Dakota's Bakken, oil production is expected to rise by 10,000 bpd to 1.05 million bpd.

New-well oil production per rig was expected to slide by 10 bpd to 645 bpd in September.

U.S. natural gas production was projected to rise to 59.2 billion cubic feet per day (bcfd) in September.

Output in Appalachia was set to rise by 0.35 bcfd to 24.6 bcfd next month. Meanwhile, Haynnesville output was set to rise by 0.15 bcfd to 6.9 bcfd.

(Reporting by Catherine Ngai; editing by Grant McCool and Steve Orlofsky and David Gregorio)



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Greyman  |  August 15, 2017
Production cheer leading story that fails to mention how many companies are cash flow negative at $55/bbl WTI. The production figures are impressive but the economics underlying them are really concerning for the sustainability of the industry. Permian Legacy Production is declining +150,000 bbl/month. We will shortly experience accelerated production profiles that will require supplemental rigs and frac crews in the near future..