Discover more from Hart Energy
Hart Energy Conferences Oil and Gas Investor E&P Magazine Rextag Stratas Advisors Hart Energy Store
See All Markets
Crack Spread
Frac Spread
Natural Gas Liquids
Public Capital
Restructurings
See All Technology
Digital Oilfield
Enhanced Oil Recovery
Pressure Pumping
Well Stimulation
See All Exploration & Production
Rig Counts
Top IP Wells
Emerging Plays
Reservoir Evaluation
See All Transactions
Acquisitions & Divestitures
Lease Sales
See All Policy & Regulation
See All Midstream
Shale Plays
See All Shale Plays
Midcontinent
Texas/LA Gulf Coast
See All Renewables
Database of selected U.S. and international exploration wells
Information on assets, buyers and sellers, deal values, and more.
New Financings
A searchable database of oil and gas debt and equity offerings.
A list of A&D professionals anywhere.
Prices for top E&P stocks and commodities.
Finance Sourcebook
The industry's foremost networking tool for the financial sector.
Oil and Gas Investor
E&P Magazine
Midstream Business Magazine
Playbooks, Techbooks and Yearbooks
A&D Watch Weekly
Midstream & Transport Monitor
Subsea Engineering News
A comprehensive source for coverage of the financial landscape of the oil and gas industry.
The latest technologies, technical solutions and strategies in Exploration, Drilling, Production and more.
Midstream Business
Connecting upstream production to the downstream sector and putting midstream in the center of it all.
Conferences Databases Publications Video
EIA: US Shale Oil Output To Hit Record In July
U.S. oil output from seven major shale formations is expected to rise by about 70,000 barrels per day (bbl/d) in July to a record 8.52 million bbl/d, the U.S. Energy Information Administration (EIA) said in its monthly drilling productivity report on June 17.
The largest change is forecast in the Permian Basin of Texas and New Mexico, where output is expected to climb by 55,000 bbl/d to a fresh peak at 4.23 million bbl/d in July.
Production in North Dakota and Montana's Bakken shale basin is also expected to climb by 11,000 bpd to a record 1.44 million bpd, the data showed. Output from the nearby Niobrara basin is expected to rise by 10,000 bpd to a record high of nearly 730,000 bpd.
A shale revolution and production increases particularly from the Permian Basin and the Bakken have helped make the United States the biggest crude oil producer in the world, ahead of Saudi Arabia and Russia.
However, the EIA has revised lower its total U.S. crude oil production growth forecast. It said last week in a monthly report that output will rise 1.36 million bbl/d to 12.32 million bbl/d in 2019, 140,000 bbl/d less than previously forecast. That will top the current all-time high of 10.96 million bbl/d set in 2018.
The rig count, an early indicator of future output, has declined over the past six months as independent exploration and production companies cut spending on new drilling as they focus more on earnings growth instead of increased output.
More than half the total U.S. oil rigs are in the Permian Basin, the biggest U.S. shale oil play, where active units decreased by five last week to 441, the lowest since March 2018, according to data from Baker Hughes, a GE company.
The EIA said in the June 17 report that producers drilled 1,318 oil and gas wells, the least since April 2018 and completed 1,395 in the biggest shale basins in May, leaving total drilled but uncompleted wells down 77 at 8,283, according to data going back to December 2013. That was the biggest decline in drilled but uncompleted wells since March 2018 when they fell by 107.
Separately, U.S. natural gas output was projected to increase to a record 81.4 billion cubic feet per day (Bcf/d) in July, the EIA said. That would be up 0.8 Bcf/d over the June forecast and mark a record 18th consecutive monthly increase. A year ago in July, output was 69.5 Bcf/d.
The EIA projected gas output would increase in most of the big shale basins in July, except Anadarko in Oklahoma and Texas and Eagle Ford in Texas.
Output in the Appalachia region in Pennsylvania, Ohio and West Virginia, the nation's biggest shale gas play, was set to rise over 0.3 Bcf/d to a record 32.4 Bcf/d in July. Appalachia production was 28.0 Bcf/d in July a year ago.
Tap into unmatched coverage of the oil and gas industry's entire landscape.
Equinor Says Production Starts At Trestakk Field In Norwegian Sea
The field has estimated recoverable resources of 76 million barrels of oil, the company added.
US Gulf Of Mexico Oil, Gas Producers Begin Restarting After Barry
There was 1.3 million barrels per day (bbl/d) of oil production off line in the U.S.-regulated areas of the GoM on July 15, about 80,000 barrels less than on July 14, according to the U.S. Bureau of Safety and Environmental Enforcement (BSEE).
Turkey Says It Will Continue To Drill For Gas Offshore Cyprus
Move is designed to pressure Greek Cypriot government to accept a cooperation proposal by Turkish Cypriots.
Subscribe to get unmatched coverage of the oil and gas industry's entire landscape.
Subscribe for free to our newsletters for the latest energy news
IndustryVoice®
Hart Energy Conferences
Rextag
Stratas Advisors
Hart Energy Store
Data & GIS
Books & Supplements
All Access Digital
© 2019 Hart Energy. All rights reserved. Reproduction in whole or in part, in any form or medium without express written permission is prohibited.