The US Energy Information Administration (EIA) said in its latest monthly report that crude oil production from the Permian Basin would hit a record high in January. The largest US shale basin is expected to pump 5.031 million bpd of oil next month, increasing around 71,000 bpd from the estimated production in December. That would mark the region’s first time reaching production of more than 5 million bpd.
The EIA forecasts crude output from all US major shale basins to increase by 96,000 bpd to 8.439 million bpd in January. Meanwhile, nationwide natural gas production is expected to increase by 341,000 Mcfd from December to 89.35 Bcfd in January, with Permian gas production projected to jump 115,000 Mcfd to 19.69 Bcfd over the same period.
The Bakken and the Eagle Ford basins are also expected to raise oil production in January 2022. Output is projected to rise by 8,000 bpd to 1.154 million bpd in the Bakken Shale and by 13,000 bpd to 1.103 million bpd in the Eagle Ford. Production in the Anadarko Basin is seen inching up 2,000 bpd to 380,000 bpd, while output in the Niobrara Shale and Appalachia is estimated to gain 1,000 bpd each to 616,000 bpd and 121,000 bpd, respectively. Meanwhile, production in the Haynesville Shale is expected to be steady at 33,000 bpd.
