Home / Business / The craze for the Permian is choking … but the production of shale oil is not

The craze for the Permian is choking … but the production of shale oil is not

According to the report by the Drilling Productivity Report released Monday by the US Energy Information Administration, the frenetic Permania that pushed oil and gas companies to rush to the O & G hotspot may not be the rendezvous, but the production in the first basin of the industry has not changed.

Oil production in the Permian Basin is expected to reach a new record next month, EIA said, which is expected to increase by 55,000 barrels a month to 4,226 million barrels a day. The Niobrara and Bakken basins are also expected to increase by 10,000 and 11,000 barrels per day in July, respectively. The Permian represents nearly half of the production of the seven main basins and is almost three times more prolific than the second most prolific basin, the Bakken.

For the seven major basins that the EIA tracks in its monthly report on drilling productivity, July output is forecast to increase by 70,000 months in a month to 8.520 million bpd – a new record.

This shale oil production helped to propel the United States to the world's largest crude oil producer, with 12.6 million barrels a day in the first week of June, beating even the most important oil companies in the world. former oil industry, Russia, whose production has reached 10.87 million barrels per day. that same week; and Saudi Arabia, whose production reached 9.690 million bp / d according to the latest official MOMR of OPEC.

As oil production continues to rise, the number of CICs declined in May, from 8,360 in April to 8,283 in May.

Gas production in the seven most prolific shale zones is also expected to increase in July, from 80 564 million cubic feet per day in June to 81 362 million cubic feet per day in July.

By Julianne Geiger for Oilprice.com

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