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Wednesday, February 11, 2015

the shale revolution



(Reuters) - Oil production from the fastest-growing U.S. shale plays is set to rise by about 60,000 barrels per day in March from February, projections from the U.S. Energy Information Administration showed on Monday.
Production from the Bakken formation of North Dakota will rise by 13,000 to 1.32 million bpd, while Eagle Ford oil production will increase by 17,000 bpd to 1.73 million bpd, according to the EIA's drilling productivity report.
Oil production from the Permian Basin of West Texas and New Mexico will rise 30,000 bpd to 1.96 million bpd, the EIA added.

Natural gas production in the major shale plays was expected to grow 0.5 billion cubic feet per day to 45.9 bcfd in March from February.