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U.S. shale oil output to top 8 mln bpd by year-end: EIA


By Devika Krishna Kumar

Dec 17 (Reuters) – Oil production from seven major U.S. shale basins is expected to surpass 8 million barrels per day (bpd) by the end of the year, the U.S. Energy Information Administration said in a monthly report on Monday.

The United States has surpassed Russia and Saudi Arabia as the world’s biggest oil producer, with overall crude production climbing to a weekly record of 11.7 million bpd.

When December ends, shale production is expected to climb to 8.03 million bpd for the first time on record and forecast to rise by about 134,000 barrels per day (bpd) in January to 8.17 million bpd.

The largest change for January is in the Permian Basin of Texas and New Mexico, where output is expected to climb by 73,000 bpd to a record of about 3.8 million bpd in January.

In North Dakota’s Bakken region, shale production is estimated to rise by 18,000 bpd to a record 1.46 million barrels per day.

U.S. natural gas production, meanwhile, was projected to increase to a record 76.9 billion cubic feet per day (bcfd) in January. That would be up more than 1.1 bcfd over the December forecast and would be the 12th monthly increase in a row.

A year ago in January output was 62.8 bcfd.

The EIA forecast gas output would increase in all the big shale basins in January.

Output in the Appalachia region, the biggest shale gas play, was set to rise 0.4 bcfd to a record 31.5 bcfd in January. Production in Appalachia was 26.4 bcfd in the same month a year ago.

(Reporting by Devika Krishna Kumar and David Gaffen in New York; editing by Jeffrey Benkoe and Grant McCool)



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