U.S. shale oil outlay seen adult for 8th month: EIA
U.S. shale oil prolongation is foresee to arise for a eighth uninterrupted month, climbing 112,000 barrels per day (bpd) to 5.585 million bpd in August, a U.S. Energy Department pronounced in a news on Monday.
The boost comes amid marketplace concerns that rising shale outlay will moderate a Organization of a Petroleum Exporting Countries’ efforts to quell a tellurian supply glut.
The U.S. shale prolongation spin would be a top given record-keeping began in 2007, according to a EIA’s monthly drilling capability report.
The Permian Basin of Texas and New Mexico, a largest U.S. oil field, is approaching to furnish 2.535 million bpd, adult 64,000 bpd from July, a U.S. Energy Information Administration said.
In Texas’ Eagle Ford, oil prolongation is foresee to arise 27,000 bpd to 1.387 million bpd, a many given Feb 2016. Meanwhile, in North Dakota’s Bakken, oil outlay is set to arise by 3,500 bpd to 1.043 million bpd, a many given November, a foresee showed.
Meanwhile, U.S. healthy gas prolongation was projected to boost to a record 52.9 billion cubic feet per day (bcfd) in August. That would be adult some-more than 0.8 bcfd from Jun and also a eighth monthly boost in a row.
The EIA projected gas outlay would boost in all of a large shale basins in August, with a biggest boost from gas in a Marcellus formation.
Output in a Marcellus arrangement in Pennsylvania and West Virginia, a biggest shale gas play, was set to stand to 19.8 bcfd in August, a fifth uninterrupted increase.
EIA also pronounced producers drilled 1,026 wells and finished 872 in a biggest shale basins in June, an boost of 154 so called drilled uncompleted wells (DUCs) from May. That raises a sum to 6,031, a top spin of DUCs on record.
Article source: http://www.cbc.ca/news/business/shale-oil-production-eia-1.4209012?cmp=rss