Major U.S. oil producing regions to add 127K bbl/day in July, EIA says

|By:, SA News Editor

Crude oil production from the seven major U.S. onshore regions is expected to grow by 127K bbl/day in July from June to average 5.475M bbl/day, according to the U.S. Energy Information Administration.

The Permian and Eagle Ford are projected to account for 85% of the increase; the report also covers the Bakken, Haynesville, Marcellus, Niobrara and Utica plays, tracking active drilling rigs, drilling productivity and estimated changes in production from existing oil and gas wells.

Oil production is expected to rise at all seven regions, led by the Permian with an increase of 65K bbl/day to 2.47M bbl/day, while the Eagle Ford is seen growing by 43K bbl/day to 1.368M bbl/day.

Each of the seven regions is expected to record increased gas production during July, rising 684M cf/day to 51.685 B cf/day, led by the Permian with a 161M cf/day jump to 8.457B, followed by the Haynesville with a 142M cf/day gain to 6.588B.

ETFs: USO, UNG, OIL, UGAZ, UWT, UCO, DGAZ, DWT, SCO, BNO, BOIL, DBO, GAZ, DTO, USL, KOLD, UNL, DNO, OLO, SZO, DCNG, OLEM

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