Permian Basin production to reach 4 million Bpd in March
Crude oil production in the Permian is set to rise above 4 million bpd for the first time in history next month, the Energy Information Administration said in the latest release of its Drilling Productivity Report.The Midland area is also one of the leading areas of growth in jobs and people in the US. Democrat politicians who support the Green New Deal would like to turn it into a ghost town. More growth is expected as the infrastructure is put in place to get the oil production to market or to shipping ports for export.
This month, the fastest-growing shale play in the United States is producing an estimated average of 3.98 million barrels per day, which is set to expand by 43,000 bpd in March, to 4.024 million bpd. This will in turn push the total shale oil output of the United States up by 84,000 bpd to 8.398 million bpd in March from 8.314 million bpd this month.
Growth in production from other shale plays will also help, of course. In Niobrara, the EIA expects this to grow by 16,000 bpd between February and March to 713,000 barrels per day. The Bakken will contribute 13,000 bpd to the national production increase, to 1.452 million bpd in March.