EIA July Drilling Rpt: US & M-U Production Hit New Record Highs

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. Get ready to break new records once again. In August we will hit the highest output of shale gas we’ve seen, ever. All seven major plays will produce an amazing 52.8 billion cubic feet per day (Bcf/d) of natural gas, and 5.6 million barrels of oil per day. Both numbers are up from July when it’s expected we will produce 52.0 Bcf/d of gas and 5.5 million barrels of oil. US shale continues to surprise and delight Americans, and confuse and confound OPEC. Which is just how we like it. In August, the Marcellus Shale is project to get a huge jump–one of the biggest we’ve seen, up 201 million cubic feet per day (MMcf/d) to a new Marcellus record of 19.75 Bcf/d of production. The Utica will go up 104 MMcf/d to 4.55 Bcf/d of natgas production. Truly impressive! Here’s the latest version of our favorite report…

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