Permian Production Forecast Growth Driven by Well Productivity, Pipeline Capacity: EIA
Data values: U.S. Petroleum and Other Liquids Supply, Consumption, and Inventories and U.S. Natural Gas Supply, Consumption, and Inventories
In its latest Short-Term Energy Outlook (STEO), the US Energy Information Administration forecast that crude oil production in the United States will grow to an average of 13.7 million barrels per day (b/d) and marketed natural gas production will grow to an average of 114.3 billion cubic feet per day (Bcf/d) in 2025. Most of the forecast growth in oil and natural gas production comes from the Permian region of western Texas and eastern New Mexico, where the EIA expects productivity gains, new and expanded infrastructure, and high crude oil prices will support rising production.
From the EIA: “In order to better capture drilling activity in several onshore U.S. regions, our STEO now makes use of multiple drilling productivity metrics. The number of active rigs is the first in a sequence of metrics that affects regional production; currently more rigs…