On Monday, the US Energy Information Administration (EIA)’s monthly drilling productivity report showed that the country’s shale crude output would likely jump to 8.1 million bpd in September, the highest since April 2020.
The Permian basin would lead the growth by rising 49,000 bpd next month to 4.8 million bpd, offsetting the dip in outputs from the Bakken and other top regions while also being the highest reading since March last year.
On the contrary, the Eagle Ford is estimated to post a 5,000 bpd decrease to 1.05 million bpd while the Bakken basin would drop by around 1,000 bpd to 1.14 million bpd.
The predictions came up after data from Baker Hughes showed that the US oil rigs soared by 10 sequentially and 172 year-on-year to 397 units last week. Enverus’ rig count showed that in the week ended August 11, the number of active oil rigs jumped by 8 to 575 units with most of the increases happened in Appalachia and the Permian.
Regarding the shale gas output, the increase would be 0.16 bcfd next month to 86.1 bcfd. The Appalachian output would be up by less than 0.1 bcfd to 34.4 bcfd, compared to December’s 35.6 bcfd records. The Haynesville output would also increase by around 0.1 bcfd to 13.5 bcfd.
