US shale oil output shows no sign of slowdown, says EIA

NEW YORK: US oil and natural gas production from the country’s fastest growing and largest shale fields showed no sign of slowing down, the US Energy Information Administration said on Monday in a forecast.
Oil production from the Permian Basin, Bakken Formation and Eagle Ford play rose by 111,000 barrels per day (bpd) in December from a month earlier, up from 106,000 bpd month-over-month, EIA said.
Production at the Bakken formation will rise by some 28,000 bpd to 1.22 million bpd, while Eagle Ford oil production will increase by some 39,000 bpd to 1.65 million bpd, according to the EIA’s drilling productivity report.
Oil production at the Permian Basin of West Texas and New Mexico will grow 44,000 bpd to 1.85 million bpd, the EIA added.
Natural gas production in the major shale plays meanwhile is expected to grow 0.7 billion cubic feet per day (bcfd) month-over-month to 44.1 bcfd in December.
Gas production increases will be driven primarily by output from the Marcellus centered under Pennsylvania and West Virginia, which will rise to 16.1 bcfd in December from 15.9 bcfd in November, EIA data showed.
Gas output at the Eagle Ford in South Texas will gain about 0.1 bcfd to 7.3 bcfd in December. Haynesville near the borders of Texas, Louisiana and Arkansas will also gain near 0.1 bcfd to 6.8 bcfd in December.
In another development, US energy major Chevron said it has yet to complete an assessment of Romania’s natural gas potential from shale.
Chevron’s reaction came after Romania’s prime minister expressed doubt about the existence of shale gas reserves there.
Prime Minister Victor Ponta, in the middle of a presidential campaign ahead of a Nov. 16 runoff which he is expected to win, said Romania had “fought very hard for something that we do not have.” He did not elaborate.
Like its emerging European Union peer Poland, Romania has opened the door to firms seeking to discover shale gas, hoping to mirror a boom in cheap energy seen in the United States.
“Chevron is analyzing the data gathered during its drilling and seismic operations to further understand the resource potential of natural gas from shale,” Chevron told Reuters.
“When the analysis has been completed, the results will be provided to the National Agency of Mineral Resources (NAMR) and will remain in the (Romanian) state’s custody.”
Romania is the third most energy-independent EU member.
Earlier this year, Chevron said it finalized exploration works at a well in the eastern Romanian village of Pungesti, after repeatedly postponing operations because of protests from local residents.