New-well oil production in the Anadarko Basin of Oklahoma and the Texas Panhandle is expected to take a hit in December according to a report from the U.S. Energy Information Administration.
In a newly-released report this week, the EIA said the average new-well oil production in November was 845 barrels a day and it would fall by 50 barrels a day to 795 in December.
A decline is also forecast in new-well gas production which averaged 4,540 thousand cubic feet a day in November. The EIA estimated December gas-well production will fall to 4,086 thousand cubic feet a day in the Anadarko…a drop of 454 thousand cubic feet of gas a day
New oil production in the Permian, predicted the EIA will slide from 2,152 barrels a day to 2,148 barrels a day from November to December. New gas well production will decline from 3,013 thousand cubic feet a day in November to 3,007 thousand cubic feet per day in December.