Oil production from key shale formations in North Dakota and Texas was little changed in May versus April, according to Bentek Energy, an analytics and forecasting unit of Platts, a leading global provider of energy, petrochemicals, metals and agriculture information.
Oil production from the Eagle Ford shale basin in Texas showed signs of decline in May, falling 6000 barrels per day (b/d), or less than 1%, vs April, the latest analysis showed. This marked the second consecutive month of production decline from the basin. However, the May decrease in production was less than that for April, when production dropped 8000 b/d. Meanwhile, crude oil production in the North Dakota section of the Bakken shale formation of the Williston Basin remained relatively flat, increasing only about 650 barrels b/d, or less than 1% in May vs April.
The average oil production from the South Texas, Eagle Ford basin last month was 1.6 million barrels per day. On a year-over-year basis, that is up 280,000 incremental barrels per day, or about 21% higher than May 2014, according to Sami Yahya, Bentek energy analyst. The average crude oil production from the North Dakota section of the Bakken in May was 1.2 million b/d, or up 155,000 b/d from year ago levels.
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