December 18, 2017 / 7:46 PM / 3 years ago

UPDATE 1-U.S. shale output set to rise by 94,000 bpd in January -EIA

(Adds oil milestones, natural gas data)

NEW YORK, Dec 18 (Reuters) - U.S. shale production is expected to rise for a 13th consecutive month to a new record in January, the U.S. Energy Information Administration said on Monday.

January output is forecast to increase by 94,000 bpd to 6.41 million bpd, according to the EIA’s monthly drilling productivity report.

The higher growth expectation comes after the EIA said last week in its short-term monthly outlook that total oil production, including non-shale output, will grow by 780,000 bpd year-over-year to a record 10.02 million bpd in 2018.

In Texas’ Eagle Ford shale play, oil output is expected to rise by 4,100 bpd to 1.24 million bpd, the strongest level since May 2016. Meanwhile, output from North Dakota’s Bakken play is set to rise by 9,300 bpd to 1.18 million bpd, the highest level since November 2015.

Permian production is forecast to rise by 68,000 bpd to 2.79 million bpd, a new record.

Meanwhile, U.S. natural gas production was projected to increase by 0.76 billion cubic feet per day to a record 63 bcfd in January. That would be the 10th consecutive monthly rise.

The largest increases were forecast in the Appalachia region, which includes the Marcellus and Utica shale formations, and the Permian.

Output in Appalachia was set to rise by 0.35 bcfd to 26.4 bcfd, the 10th consecutive rise. In the Permian, output is projected to rise by 0.19 bcfd to 9.6 bcfd, its 12th consecutive rise. (Reporting by Catherine Ngai, additional reporting by Bryan Sims; Editing by Chizu Nomiyama and Matthew Lewis)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below