U.S. Oil & Gas Production keeps falling - Aug 19

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

U.S. Oil & Gas Production keeps falling - Aug 19

Post by dan_s »

Both natural gas and oil production from seven key U.S. onshore plays is set to decline in September, continuing a downtrend that began earlier this year, according to the latest Drilling Productivity Report (DPR) published Monday by the Energy Information Administration (EIA).

EIA expects natural gas production from the Anadarko, Appalachian, Denver Julesburg-Niobrara and Permian basins, as well as from the Bakken, Eagle Ford and Haynesville shales, to fall by a combined 421 MMcf/d from August to September, hovering at just over 79.2 Bcf/d.

Oil production from these regions is expected to decline by a combined 19,000 b/d month/month, with total output projected to remain at just over 7.5 million b/d.

Read more: https://www.naturalgasintel.com/natural ... -eia-says/

MY TAKE: Most of the wells shut-in during April-May are now back online. U.S. production can only decline now because we are not completing enough wells to offset natural decline rates.
Dan Steffens
Energy Prospectus Group
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