EIA Drilling Report: New Production Highs Again Coming in May

Yesterday MDN’s favorite government agency, the U.S. Energy Information Administration (EIA), issued our favorite monthly report–the Drilling Productivity Report (DPR). The DPR is the EIA’s best guess, based on expert data crunchers, as to how much each of the U.S.’s seven major shale plays will produce for both oil and natural gas in the coming month. This latest report shows that an upswing in production–for both natural gas and oil–will continue over the next 30 days. In fact, get ready to break new records! Output in the Marcellus/Utica region is set to once again reach new highs. In the Marcellus, output will come within striking distance of 19 billion cubic feet per day (Bcf/d). Astonishing! In the Utica, output will hit 4.2 Bcf/d. Shale oil output across all seven major plays is set to hit 5.2 million barrels per day, with almost all of the increase coming from the Permian and Eagle Ford plays in Texas. Buckle up and get ready for another wild ride in the coming month…

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