U.S. Shale Plays Expected to Boost Oil, Gas Output in August
YOUNGSTOWN, Ohio – Energy companies drilling in shale basins across the United States are projected to increase production of oil and natural gas in August, according to a new report from the U.S. Energy Information Administration.
According to EIA’s Drilling Productivity Report, the seven identified shale regions across the country are projected to collectively increase oil production by 136,000 barrels a day and boost natural gas output by 748 million cubic feet per day next month compared to July.
Energy producers in the Appalachian region — which includes the Utica shale in eastern Ohio and the Marcellus shale in Pennsylvania and West Virginia — expect to increase gas production by 207 million cubic feet per day and oil by 3,000 barrels daily from the previous month.
The Appalachian region easily produces the largest volume of natural gas in the country. In August, daily production is estimated to rise to 35.3 billion cubic feet per day from 35.1 billion cubic feet in July. Oil output likely to grow slightly from 130,000 barrels per day this month to 133,000 barrels in August, according to the report.
The Permian Basin, located mostly in western Texas, is the second largest gas producer with a projected output of 20.5 billion cubic feet of natural gas per day by next month. The region is the largest oil producer in volume, anticipating increasing production by 78,000 barrels to 5.4 million barrels per day.
Six out of the seven shale plays anticipate more oil production in August, according to EIA’s report. The Haynesville shale in eastern Texas and western Louisiana expects no change in production.
Natural gas production is estimated to increase all of the regions with the exception of the Anandarko Basin in Oklahoma, which expects to see a decrease of 12 million cubic feet per day next month, EIA reported.
Published by The Business Journal, Youngstown, Ohio.