Natural gas has been under a prolonged downtrend even before the COVID-19 pandemic. According to the updated review model established by the Energy Information Administration (EIA), the Natural gas output is expected to rise across seven crucial U.S. onshore regions during June and July.Natural gas production is monitored across various regions, including Anadarko, Permian Basins, Appalachia, and areas such as Bakken, Eagle Ford Haynesville shales, and Niobrara.
Latest reports are indicating a rise by 50 MMcf/d between June to July. In addition, assumptions by the EIA published in Drilling Productivity Report (DPR) edition suggest that the value would soon reach 84.302 MMcf/d.The DPR utilizes the latest rig data coupled with drilling productivity estimates. These readings also suggest production alterations required in the existing oil wells with a view of re-modeling all the seven production regions.
Similarly, the production rate estimated across Anadarko, Bakken, Eagle Ford, and Niobrara is expected to fall by 62 MMcf/d, 51 MMcf/d, 19 MMcf/d, and 39 MMcf/d, respectively. From June to July, the oil production is set to rise from the seven regions by 38,000.