This puts its just short of previous production peaks in 2015.
Rystad Energy’s comprehensive well data for the United States shows that domestic oil production could pass 9.9 million barrels per day in December 2017. For comparison, the EIA estimates oil production will reach just 9.72 million barrels per day in its September Short-Term Energy Outlook (STEO).
The Dec 8, 2017 weekly EIA oil production report was that US production was at 9.78 million barrels per day.
January output is forecast to increase by 94,000 bpd to 6.41 million bpd, according to the EIA’s monthly drilling productivity report.
Last week EIA short-term monthly outlook forcasted that total oil production, including non-shale output, will grow by 780,000 bpd year-over-year to a record 10.02 million bpd in 2018. In Texas’ Eagle Ford shale play, oil output is expected to rise by 4,100 bpd to 1.24 million bpd, the strongest level since May 2016. Output from North Dakota’s Bakken play is set to rise by 9,300 bpd to 1.18 million bpd, the highest level since November 2015.
Permian production is forecast to rise by 68,000 bpd to 2.79 million bpd, a new record.
U.S. natural gas production was projected to increase by 0.76 billion cubic feet per day to a record 63 bcfd in January. That would be the 10th consecutive monthly rise.
The largest increases were forecast in the Appalachia region, which includes the Marcellus and Utica shale formations, and the Permian.
The Drilling Productivity Report uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and estimated changes in production from existing oil and natural gas wells to provide estimated changes in oil and natural gas production for seven key regions. EIA’s approach does not distinguish between oil-directed rigs and gas-directed rigs because once a well is completed it may produce both oil and gas; more than half of the wells produce both.