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Production at Permian Field edges up

Production at Permian Field edges up

Aug 23, 2016
2 min read
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Production at the Permian Field is projected to increase by 3,000 barrels per day in September, according to data compiled by the US energy Information Administration.

Production will increase to 1.977 million barrels per day, following a long run of consecutive monthly production contractions.

The EIA’s Drilling Productivity Report shows that the Permian Basin is the only major shale play in the US whose production levels are set to increase.

Low oil prices have stifled production levels across the US, where higher production costs mean that shale operators need a higher price per barrel to turn a profit.

Together with the Permian Basin, the report also focuses on the Eagle Ford, Bakken, Haynesville, Niobrara, Marcellus, and Utica regions, which account for around 95% of US shale crude production.

Total US production at these shale plays is forecast to fall by 85,000 bpd to 4.47 million bpd in September.  

 

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