Utica Oil Production Flattens, Gas Production Up
YOUNGSTOWN, Ohio – Oil production across Ohio’s Utica shale is expected to remain flat in October while natural gas production is anticipated to increase slightly, according to the U.S. Energy Information Administration.
The agency’s monthly drilling productivity report shows that oil output in the Utica shale region should remain unchanged in October at 69,000 barrels per day.
Natural gas production, on the other hand, is expected to increase by two million cubic feet day from 3.602 billion to 3.604 billion cubic feet a day, the agency said.
The Utica and the Permian Basin were the only two of the country’s eight major shale plays to project a gain in natural gas output for October. The Permian Basin is expected in see a 35 million cubic feet per day increase in production for the month.
Overall oil production from U.S. shale wells is expected to decline from 4.466 million barrels a day in September to 4.405 million barrels per day in October, or a decrease of 61,000 barrels per day.
Natural gas output is projected to drop from 45.577 billion cubic feet per day to 45.277 billion cubic feet per day – a decrease of 302 million cubic feet per day.
Copyright 2022 The Business Journal, Youngstown, Ohio.