PW
Español

 

PW
Guyana
Surinam


PW
Trinidad

& Tobago
Caribbean

 

Prices
Graphics

 




Very usefull links



PW
Bookstore





Blogspots

The Global Barrel

Tiempo Culural

Gustavo Coronel

Iran Watch.org

Le Blog des
Energies Nouvelles

News Links

AP

AFP

Aljazeera

Dow Jones

Reuters

Bloomberg

Views and News
from
Norway

 

PW
Bookstore

 

 

 

Oil production at biggest U.S. shale field set to hit new record

 

 


 

 

By Jessica Resnick-ault  / Reuters

NEW YORK
Petroleumworld 11 16 2021

Crude oil production from the Permian Basin, the largest U.S. oil field, is set to surpass its pre-pandemic record in December, a swift turnaround that has not been replicated in the country's other oil regions.

Oil output from the Permian, located in Texas and New Mexico, is forecast to reach a record 4.953 million barrels per day (bpd) in December, as output has come back with the surge in economic demand.

The Permian is the primary driver of U.S. output, but its percentage of U.S. overall production is even more than at the end of 2019, when the United States was producing 13 million barrels a day.

December's forecast production will surpass the previous record of 4.913 million bpd set in March 2020, according to a monthly forecast from the U.S. Energy Information Administration.

U.S. total oil output dropped by more than 2 million barrels a day in 2020 due to coronavirus-induced demand destruction. Production has returned gradually, with numerous other oil fields, such as the Bakken in North Dakota, still far from their peak production levels.

"Permian Basin wells tend to be the most prolific wells compared to other basins, so if you have more limited capital, you would go there first," said Andrew Lipow, president of consultancy Lipow and Associates in Houston.

The Permian's importance is augmented by its proximity to major pipeline hubs and connections to export centers, making it more advantaged than other basins.

Overall shale production across seven major shale regions is forecast to rise by 85,000 bpd to 8.316 million bpd, with the bulk of the increase seen in the Permian, where output is expected to rise 67,000 bpd.

Gas production from the seven shale regions is expected to rise 0.2 billion cubic feet per day to 89.4 bcf/d in September.

____________________________________________

Reporting by Jessica Resnick-Ault and Scott DiSavino; Editing by Hugh Lawson from Reuters


reuters.com 11 16 2021

TOP

                                                                                                                                                                                                                                                                                                                                                                                             Contact: editor@petroleumworld.com,


Editor & Publisher:Elio Ohep /
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2021, Elio Ohep A. - All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2021, Petroleumworld   / Elio Ohep - All rights reserved

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.