A new report shows new well oil production in the Anadarko Basin which includes Oklahoma will likely increase in October.
The U.S. Energy Information Administration reported Monday that new well oil production in October will increase over September by 2 barrels a day to an average of 713 barrels a day.
Total oil production in September was 424,000 barrels of oil a day in the Anadarko and it is expected to increase to 432,000 barrels a day in October.
Natural gas production is expected to grow from the 6,715 million cubic feet a day in September to 6,724 million cubic feet a day in October.
The number of drilled by uncompleted wells in the Anadarko fell from 717 in July to 709 in August, reported the EIA.
While new well production in the prolific Permian basin is expected to drop slightly in October, total oil production will make a large increase. The government report indicated it will climb from 5,345,000 barrels a day in September to 9,115,000 barrels a day in October, a gain of 132,000 barrels a day.
National gas production will make a major gain too, going from 20,584 million cubic feet a day in September to 20,736 million cubic feet per day in October, an increase of 152 million cubic feet a day.
The number of DUCs or drilled but uncompleted wells in the Permian fell from 1,180 in July to 1,161 in August.
