The US Energy Information Administration forecasts crude oil production from seven major shale formations will climb 80,000 b/d in May to a record 8.46 million b/d, EIA said in its Monthly Drilling Productivity Report.
The Permian basin of Texas and New Mexico is expected to experience the biggest boost with production forecast to climb by 42,000 b/d to 4.136 million b/d in May.
EIA forecasts North Dakota’s Bakken formation production will rise 11,000 b/d to 1.39 million b/d, which would be down from a record 1.41 million b/d reported in January.
Separately, US natural gas production from the seven shale formations was forecast to increase to a record 79.8 bcfd in May, up 0.9 bcfd over the April forecast.
EIA forecasts gas production from Appalachia will rise 353 MMcfd to a record 32.2 bcfd in May. Records showed Appalachia production at 27.1 bcfd for May 2018.
