US Shale Oil Production To Hit Record Highs In June - Energy Agency

WASHINGTON (Pakistan Point News / Sputnik - 17th May, 2022) Crude production from the shale oil patches in the United States is expected to hit record highs next month as the so-called Permian and other basins add nearly 2% more in output, the Energy Information Administration (EIA) said on Monday.

Permian production is seen at 5.219 million barrels per day (bpd) in June, up 88,000 bpd from the end of May, the EIA said in an outlook.

A new well oil production per rig of 1,129 bpd is expected at the basin next month, the EIA said.

The Permian basin is about 250 miles wide and 300 miles long, spanning parts of west Texas and southeastern New Mexico. It includes the highly-prolific Delaware and Midland sub-basins.

The EIA also forecast new well production of 1,800 bpd at the Bakken shale field and 1,891 bpd for the Eagle Ford basin that it said would help boost their production to record highs as well.

Consequently, US shale oil production as a whole is expected to rise 143,000 bpd, or 1.6%, to an estimated 8.762 million bpd in June, the EIA added.