Permian oil output forecast to hit record high in June -EIA

Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise 88,000 barrels per day (bpd) to a record 5.219 million bpd in June, the U.S. Energy Information Administration (EIA) said in its productivity report on Monday.

Total output in the major U.S. shale oil basins will rise 142,000 bpd to 8.761 million bpd in June, the most since March 2020, EIA projected.

In the Bakken in North Dakota and Montana, EIA projected oil output will rise 17,000 bpd to 1.189 million bpd in June, the most since December 2020.

In the Eagle Ford in South Texas, output will rise 27,000 bpd to 1.176 million bpd in June, its highest since April 2020.

Total natural gas output in the big shale basins will increase 0.8 billion cubic feet per day (bcfd) to a record 91.8 bcfd in June, EIA forecast.

In the biggest shale gas basin, output in Appalachia in Pennsylvania, Ohio and West Virginia will rise to 35.7 bcfd in June, its highest since hitting a record 36.0 bcfd in December 2021.

Gas output in the Permian and the Haynesville in Texas, Louisiana and Arkansas will rise to record highs of 20.0 bcfd and 15.1 bcfd in June, respectively.

But productivity in the big

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Source: Reuters

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