Utica Production Forecasts Better than Other Plays
YOUNGSTOWN, Ohio – Shale oil production during the month of June is forecast to total 4.85 million barrels per day (bpd) nationwide, a drop of 113,000 from May’s forecast, the U.S. Energy Information Administration reports. In April, total production reached 4.95 million barrels per day.
The agency issued its monthly drilling productivity report Monday that includes breakdowns by shale plays.
Utica crude output is expected to be flat at 79,000 bpd in June. The Marcellus play’s crude forecast is lower, a drop of 1,000 bbd in May, down to 40,000 bbd. Declines in crude oil production are also forecast for the Bakken, Eagle Ford and Permian Basin.
Nationwide shale gas production is expected to drop by 464 million cubic feet per day. But in Ohio’s Utica region, shale gas production is forecast to rise in June by 4 million cubic feet per day.
In the Marcellus play, the biggest U.S. shale gas field, June shale gas output is forecast to fall by 0.1 billion cubic feet per day to 17.3 bcfd in June.
DOWNLOAD production forecast PDF
Copyright 2018 The Business Journal, Youngstown, Ohio.
Published by The Business Journal, Youngstown, Ohio.
CLICK HERE to subscribe to our print edition and sign up to our free daily headlines.