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US oil, gas production continued higher in October

Already at record high levels, production of crude oil and natural gas across the U.S. continued to run higher in October.

Crude oil output was up 0.7% on the month and up 18.9% year on year as it remains on pace to break all-time highs for the year. Natural gas production was up 0.9% on the month and was 12.4% higher year on year, driven by gains in Alaska and a few Appalachian states.

The U.S. Energy Information Administration's latest "Monthly Crude Oil and Natural Gas Production" report released Dec. 31 showed gross oil production at 11.54 million barrels per day in October, up 79,000 barrels per day from September's figures.

Production gains were led by New Mexico and North Dakota, which saw output rise by 33,000 bbl/d and 31,000 bbl/d on the month, respectively, which was offset by Gulf of Mexico production, which declined by 29,000 bbl/d.

U.S. crude oil production is at its highest levels ever recorded and rising, the agency said in its latest Short-Term Energy Outlook released Dec. 11. The EIA expects U.S. crude oil production will have averaged 10.9 MMbbl/d in 2018, up from 9.4 MMbbl/d in 2017, and will average near 12.1 MMbbl/d in 2019.

The latest monthly production report showed gross withdrawals of natural gas were up more than 0.9 Bcf/d, or 0.9%, from the month prior to an all-time high average of almost 105.4 Bcf/d, up 12.4% year on year.

Total U.S. natural gas production, as measured by the EIA as "gross withdrawals," includes the natural gas liquids present in "wet" gas, as well as nonhydrocarbon gases, and any gas delivered as royalty payments or consumed in field operations.

Alaska and a few Marcellus/Utica states accounted for most of the gains. Alaska production increased 0.22 Bcf/d to 8.74 Bcf/d while Ohio, Pennsylvania and West Virginia saw monthly increases of about 0.2 Bcf/d each to averages of almost 7.2 Bcf/d, more than 17.9 Bcf/d, and almost 5.3 Bcf/d, respectively.