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Title : On-Shore Crude Oil Production Forecast For August, 2017
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On-Shore Crude Oil Production Forecast For August, 2017

August on-shore crude oil production forecast:

• will add 113,000 bopd month-over-month
• total production will go to 5.585 million bopd
• about 94% of the increase expected to come from the Permian, the Eagle Ford, and the Niobrara
• Permian
• • Permian: forecast to gain 64,000 bopd month-over-month; to 2.535 million bopd; 
  • Permian: forecast to account for 30% of total US oil production in 2018, up to 2.9 million bopd
• Eagle Ford
• • Eagle Ford: forecast to gain 27,000 bopd m-o-m; to 1.387 million bopd
  • Eagle Ford: forecast to average 1.3 million bopd in both 2017 and 2018
  • Eagle Ford: 80 active rigs
  • Eagle Ford: DUCs -- rose by 42 m-o-m to 1,406
• Niobrara
• • Niobrara: to gain 15,000 bopd, m-o-m; to 480,000 bopd
  • Niobrara: DUCs up 2 to 663
• Bakken
• • Bakken: to gain 4,000 bopd; to 1.043 million bopd
  • Bakken: DUCs up 8 (in June) to 819
  • the Bakken is running about 60 rigs

Note: the ratio of 60 rigs in the Bakken to 80 rigs in the Eagle Ford almost perfectly matches the difference in daily crude oil production.

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