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US oil, natural gas production continue to fall in July

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US oil, natural gas production continue to fall in July

Crudeoil and wet natural gas production across the United States continued to slidein July and remained below year-ago levels, according to a monthly report fromthe U.S. Energy Information Administration. In oil production, the declines wereled by declining output in Texas and Alaska, while in natural gas production,the declines were led by Wyoming and Texas.

Grosswet gas production in the U.S. slipped 0.5%, or 0.44 Bcf/d, to 87.41 Bcf/d inJuly from 87.84 Bcf/d in June, putting total U.S. gas production 1.56 Bcf/d, or1.8%, below levels reported in July 2015, the EIA said in its latest"Monthly Crude Oil and Natural Gas Production" report released Sept.30.

Bystate or area, Wyoming saw the largest drop in production by volume, down 0.44Bcf/d month on month to 4.4 Bcf/d, followed by Texas, which saw output ease0.43 Bcf/d to 22.06 Bcf/d. However, the declines were partially offset by a0.44 Bcf/d increase in West Virginia production and a 0.11 Bcf/d increase inAlaska's gas production. West Virginia's July production was pegged at 3.91Bcf/d, and Alaska's production was seen at 7.72 Bcf/d.

TotalU.S. crude oil production declined 0.2% month on month, from 8.71 MMbbl/d inJune to almost 8.69 MMbbl/d in July, and was down 7.8% from levels recorded inJuly 2015.

Onan absolute basis, Alaska saw the largest drop in oil production, declining32,000 bbl/d to 438,000 bbl/d, followed by Texas, where oil production dropped11,000 bbl/d to 3.16 MMbbl/d. But helping to offset the losses, California oilproduction was up 20,000 bbl/d to 512,000 bbl/d and federal Gulf of Mexico oilproduction climbed 16,000 bbl/d to almost 1.56 MMbbl/d.