EIA projects 77,000 Bpd Hike in US Tight Oil Output in Nov
10/18 2:26 PM
EIA projects 77,000 Bpd Hike in US Tight Oil Output in Nov. CRANBURY, N.J. (DTN) -- Oil production from the seven key oil producing regions in the United States are projected by the Energy Information Administration to increase by 77,000 bpd to 8.219 million bpd from October to November, according to EIA's monthly Drilling Productivity Report released this afternoon. If realized, oil production in the seven regions would be 333,679 bpd or 4.2% above the November 2020 output rate, and 1.592 million bpd or 24% more than in February, when Winter Storm Uri forced widespread production outages amid wellhead and gathering line freeze offs. Oil output in the Permian basin accounts for 62,000 bpd of the forecasted increase, with production for the prolific region situated in western Texas, eastern New Mexico expected at 4.888 million bpd. Oil output in the Bakken region in North Dakota is seen up 6,000 bpd to 1.137 million bpd, and up 1,000 bpd in the Eagle Ford region at 1.077 million bpd. The inventory of drilled but uncompleted wells fell 241 in September from August to 5,385, the lowest number of DUCs since February 2017. The number of DUCs is down 3,192 or 37.2% from September 2020, with 751 or 12.3% of the decline occurring in the third quarter. (c) Copyright 2021 DTN, LLC. All rights reserved.
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