U.S. shale output seen posting 12th straight rise in December – EIA
U.S. shale production for December is expected to rise for a 12th consecutive month, the U.S. government said on Monday, as oil prices remain near their mid-2015 highs.
Total shale output is estimated to rise by more than 80,000 barrels per day (bpd) to 6.17 million bpd, the U.S. Energy Information Administration said during its monthly drilling productivity report.
Bakken output from North Dakota is set to rise by nearly 5,600 bpd to 1.1 million bpd, the highest level since March 2016, while Eagle Ford output is set to remain nearly flat at 1.2 million bpd.
Permian production is forecast to rise by 58,000 to 2.7 million bpd, a new record.
U.S. natural gas production was projected to increase to a record 61.7 billion cubic feet per day in December. That would be up over 1.3 percent from the November forecast, and would be the ninth consecutive monthly increase.
The EIA projected gas output would increase in each of the major shale basins in December, with the biggest increase in the Appalachia region, which includes the Marcellus and Utica shale formations.
Output in Appalachia was set to rise by 0.4 bcfd to 26.1 bcfd, the ninth consecutive increase.
The EIA also said producers drilled 1,203 wells and completed 1,065 in the major shale basins in October, leaving total drilled but uncompleted wells at 7,342, the most since the data collection began in December 2013.
Source: Reuters (Reporting by Catherine Ngai and Jessica Resnick Ault in New York; Additional reporting by Bryan Sims in Houston; Editing by Richard Chang)