A new government report anticipates an increase in Permian Basin oil and gas production from November to December while the Anadarko Basin will stay steady.
The EIA forecast total Permian Basin production is expected to increase from 5,460,000 barrels a day in November to 5,499,000 barrels a day in December. Natural gas production will increase from 21,143,000 cubic feet a day to 21,268,000 cubic feet a day in December.
The U.S. Energy Information Administration, in a report this week, indicated new well production in the Permian Basin will decline from 1,061 barrels of oil a day in November to 1,049 barrels a day in December. Natural gas production from new wells in the Permian is also expected to decline in December.
The Anadarko Basin’s new well production for November was 696 barrels a day while December’s will only increase to 697 barrels a day. But new gas production in the Anadarko might increase slightly from 3,796 Mcf a day to 3,803 Mcf a day in December.
The EIA indicated the Bakken will see gains in both new well production, moving from 1,696 barrels a day in November to1,710 barrels a day in December, and in total production.
The Bakken is expected to go from 1,182,000 barrels a day in November to 1,201,000 barrels a day in December.
The EIA also stated that the number of DUCS or drilled but uncompleted wells is slowly declining in most regions. The Anadarko is expected to go from 723 in September to 718 in October. The Bakken will remain unchanged with 494 DUCS.
The Permian Basin’s DUCS will decline from 1,097 in September to 1,084 in October.