U.S. OIL DOWN 92,000
Crude oil production in March from seven major US shale plays is expected to fall 92,000 b/d to 4.92 million b/d.
The DPR focuses on the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica, which altogether accounted for 95% of US crude oil production increases and all US natural gas production increases during 2011-13.
Output from the Eagle Ford in March is forecast to decline 50,000 b/d to 1.22 million b/d, followed by a 25,000-b/d drop in the Bakken to 1.1 million b/d and a 15,000-b/d loss in the Niobrara to 389,000 b/d.
The Permian is seen rising by 1,000 b/d to 2.04 million b/d.
New-well oil production/rig across the seven plays in March is expected to increase by a rig-weighted average of 4 b/d to 504 b/d. Expected to lead the way is the Utica, up 13 b/d to 308 b/d; with the Niobrara closely behind at a 12-b/d rise to 741 b/d. The Eagle Ford is seen gaining 8 b/d to 812 b/d.
EIA projects natural gas production in March from the seven plays to fall 451 MMcfd to 44.26 bcfd, mostly reflecting a 202-MMcfd drop in the Marcellus to 15.7 bcfd, 158-MMcfd loss in the Eagle Ford to 6.44 bcfd, and 70-MMcfd decline in the Niobrara to 4.15 bcfd.
The Utica, meanwhile, is expected to rise 32 MMcfd to 3.28 bcfd.
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