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US shale oil, gas output to average 8.52 million b/d, 81.4 Bcf/d in July: EIA

Washington — The US Energy Information Administration on Monday forecast US shale oil output to average 8.52 million b/d and shale gas production to average nearly 81.4 Bcf/d in July, up about 1.2 million b/d and nearly 11.9 Bc/fd, respectively, from July 2018.

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In its Drilling Productivity Report, which forecast US shale gas and oil supply, EIA revised its June shale oil production estimate to 8.45 million b/d, down from about 8.5 last month, and its June shale gas production estimate to nearly 80.6 Bcf/d, about 100 MMc/f below last month's estimate.

EIA forecasts Permian oil production to average about 4.23 million b/d in July, up about 55,000 b/d from June, and gas production in the Permian to average nearly 14.7 Bcf/d in July, up 230 MMcf/d from June.

Gas production in the Appalachia play will grow to over 32.4 Bcf/d in July, up about 350 MMcf/d from June.

Oil production in the Bakken will grow to nearly 1.44 million b/d in July, up 11,000 b/d from June, while Eagle Ford output will fall to 1.39 million b/d in July, down about 3,000 b/d from June, EIA said.

In its Short-Term Energy Outlook released last week, EIA forecast overall US oil production to average 12.32 million b/d in June and 12.34 million b/d in July, up 1.65 million b/d and 1.4 million b/d, respectively, from the same month's last year. EIA forecasts total US oil output to average 13 million b/d by January 2020.

EIA forecast total US natural gas production to average 97.75 Bcf/d in June and 98 Bc/fd in July, up about 9.7 Bcf/d and 8.2 Bcf/d, respectively, from the same month's last year. EIA forecasts US gas production to average over 99 Bcf/d by November.

-- Brian Scheid, brian.scheid@spglobal.com

-- Edited by Richard Rubin, newsdesk@spglobal.com