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.

    




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