In its Productivity Report this week, the U.S. Energy Information Administration said the Permian Basin will see its production in June rise 88,000 barrels a day to a record 5.219 million bpd.
- May production for the Permian had been estimated at 86,000 barrels a day.
- In the Anadarko Basin, the EIA forecast a production increase of 4,000 barrels a day reaching 395,000 barrels a day in June, up from 391,000 barrels a day in May.
- The EIA predicted production in the Bakken will surge by nearly 17,000 barrels of oil a day reaching a daily June production of more than 1.1 million barrels.
- The Eagle Ford, according to the EIA will see a June daily increase of 27,000 barrels a day total of nearly 1.2 million bpd.
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Wells Drilled in 2022 Mid Continent (TX,OK,LA,NM)
The Permian Basin, which spans western Texas and eastern New Mexico, represents the most prolific hydrocarbon production region in the United States. They accounted for about 30% of U.S. crude oil production and 14% of U.S. natural gas production (measured as gross withdrawals) in 2020. Technology innovations, such as longer lateral wells and multi-well pad drilling, has helped reduce costs and increase productivity in developing oil and natural gas resources in the Permian Basin.
The Anadarko Basin is a geologic feature covering approximately fifty thousand square miles primarily in west-central Oklahoma, but including the upper Texas Panhandle, southwestern Kansas, and southeastern Colorado.
The Bakken Formation is located in western North Dakota, eastern Montana, and southern Saskatchewan, Canada, as a subsurface formation within the Williston Basin. The Williston Basin extends to southwestern Manitoba, east-central North Dakota, northwestern South Dakota, eastern Montana, and southern Saskatchewan.
Eagle Ford in Texas is the most mature tight oil play in the Lower 48 current, oil and natural gas production of 2.5 million barrels of oil equivalent per day. Measuring 400 miles long and 50 miles wide along the Texas Gulf Coast, the Eagle Ford basin is spread over 12,000 square miles in South and central Texas.