The U.S. Government expects oil production in the Anadarko Basin of Oklahoma and the Texas Panhandle to increase by September.
New-well oil production is forecast to increase by 9,000 barrels a day, reaching 558,000 barrels a day by next month, according to a forecast released this week by the U.S. Energy Information Administration. The August production was 549,000 barrels a day in the Basin.
New well oil production per rig is expected to grow from 407 barrels a day on average to 410 per day by September. New well gas production per rig is forecast to increase to 2,889 cubic feet per day.
Total gas production in the Basin is expected to increase 100 million cubic feet a day, reaching 7,220 million cubic feet every day.
The EIA also reported this week the number of drilled but uncompleted wells or DUCs in the Anadarko Basin increased to 923 as of July 2018, up 7 from June. The biggest change was an increase of 167 in the Permian Basin where as of July, there were 3,470 DUCs.