Posted on 11/10/2015 5:47:53 AM PST by thackney
New federal data shows that the Energy Department expects drillers in the Permian Basin to push oil production in the shale play above 2 million barrels per day for the first time ever this November.
The U.S. Energy Information Administration’s monthly Drilling Productivity Report released Monday, which covers seven of the biggest shale plays in the country, projects production in the Permian to jump by 17,000 bpd this month. That increase would bring the play above the 2 million bpd mark. In December, the EIA expects the play to grow again by 11,000 bpd.
But the Permian is one of the outliers — the only other play expected to grow over the next two months is the Utica in the Appalachian region. Combined with the other five plays — the Eagle Ford, Bakken, Haynesville, Marcellus and Niobrara plays — oil output overall is projected to fall to 4.95 million bpd the end of the year. That would be a fall of nearly 560,000 bpd from an April 2015 peak of 5.51 million bpd.
The Eagle Ford in South Texas has had the biggest impact on overall U.S. production growth. The EIA projects output in the Eagle Ford to fall 436,000 bpd by December from a peak of 1.71 million bpd in March.
Drilling Productivity Report
http://www.eia.gov/petroleum/drilling/#tabs-summary-2
Release Date: November 9, 2015
http://www.eia.gov/petroleum/drilling/pdf/dpr-full.pdf
Good to know, in spite of all the idle rigs lined up around there.
Permian was slower to grow as the shale work took off, and is slower to slow down as well.
It may be related to a higher percentage of vertical versus horizontal rigs able to economically work that play. They make wells that produce less initially but tend to be slower to fall in production rates.
We’re not drilling right now but we are buying production and leases, still plenty of drilling going on though. I can drill a well a lot cheaper now than I could 6 years ago and the Cline isn’t going anywhere we’re really just now getting into it. We’re starting a 12 well package on a new place down by Garden City after the first of the year.
We’re starting a 12 well package on a new place
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Horizontal or vertical planned?
What we really need to do is refuse to import any Middle East oil. We have our own and do not need to make our enemies richer by buying from them while this corrupt government drives our own energy producers into the dirt.
All our oil companies ought to be brought out of the Middle East or pay a stiff tariff when they bring crude from there to the US for refining. There are a number of ways to skin a cat.
We don’t produce enough oil to supply our own needs. We import ~7 million barrels a day.
Adding taxes to specific companies only makes the a new middle man richers who will pass the oil on to us for an extra price. Raise our prices and make us less economic in our refining industry.
More government taxes is not the solution.
Not to mention, the Saudi’s own refineries in the USA.
Hearing some people saying the world will run out of fossil fuels in about 50-75 yrs. . .got any come-back I can use?
It use to be low energy prices were a boon to heavy industry.
Now that our manufacturing base has moved overseas, one of the only heavy industry is in the energy sector.
This is not good.
Good news, especially for the economy. Thanks for sharing.
Even companies like Caterpillar are hurting at the current oil/gas prices.
The same types of people were saying that back in the 70's. It's like climate alarmists the closer their deadline gets the further back they push it.
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