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Inside the EIA’s Forecasts for Permian Production


Dec. 4 2020, Updated 10:53 a.m. ET

Permian production forecasts

In its August drilling productivity report, the EIA (US Energy Information Administration) estimated that oil production is expected to rise by 64,000 barrels per day in September (compared with August). The Niobrara and Eagle Ford regions are expected to grow their productions by 15,000 and 14,000 barrels per day, respectively, in September.

Total oil production at major US shales is expected to rise by 117,000 barrels per day, implying that ~55% of that growth will come from the Permian Basin.

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Niobrara and Bakken versus Permian

However, according to the EIA, new-well oil production per rig will rise only in the Niobrara and the Bakken regions in September 2017, compared with September 2016. The Permian Basin and the Eagle Ford region have lower forecasts for new well oil production per rig than the Niobrara and Bakken have.

Notably, the key Permian players include Chevron (CVX), Apache (APA), and Concho Resources (CXO), while the top players in the Eagle Ford include EOG Resources (EOG) and ConocoPhillips (COP). Prominent Bakken players include Whiting Petroleum (WLL) and Continental Resources (CLR).


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