EIA Aug ’18 Drilling Report: Gas Prod. Jumps 1 Bcf/d, Again!

Records continue to be shattered. On Monday our 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. The Marcellus/Utica region (called Appalachia in the report) continues to see production go through the roof. As has been happening for the past 6 months or so, production in the Marcellus/Utica region will grow another roughly 1/3 billion cubic feet (Bcf) in the coming month. If you add up new gas production for all seven major plays, the U.S. will produce an additional 1 Bcf/d in September, same as was added in August. That’s 1 Bcf more in September than we produced in August, or 2 Bcf/d more in September than what we produced in July. Mind blowing! No less impressive is U.S. oil production from shale. This month oil production will grow another 93,000 barrels per day, hitting a new all-time high of 7.5 million barrels per day of production–just from shale (not from offshore). Once again, new records for gas (and oil) will be shattered in September…

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