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EIA Forecast Permian Per Rig Production Fall in July

OIL

The EIA expects new oil well production per rig will drop to 1,116 bpd in the Permian in July, the lowest since August 2020, and new gas well production per rig will drop to 28.0 mmcfd in Appalachia, the lowest since September 2020. The forecasts were part of the EIA productivity report out yesterday.

  • The EIA said producers drilled 911 wells and completed 957 in May, the most since March 2020
  • That left total drilled but uncompleted (DUC) wells down 46 to 4,249, the lowest since at least December 2013.

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