U.S. OIL + 81 TBD, GAS + 827 MCFD
Oil and gas production from the Anadarko, Appalachia, Bakken, Eagle Ford, Haynesville, Niobrara, and Permian, taking into consideration the regions' total number of active drilling rigs, drilling productivity, and estimated changes in production from existing oil and gas wells.
The Permian is projected to supply 50,000 b/d of the overall rise, bringing its November output to 2.663 million b/d. EIA estimates the basin's count of drilled-but-uncompleted (DUC) wells climbed by 93 month-over-month in September to 2,416. Its Baker Hughes rig count has mostly avoided the downward momentum seen in other regions in recent months.
EIA projected Permian production to increase 260,000 b/d in the second half compared with the first half to average 2.6 million b/d.
The Niobrara shale and Anadarko region are each expected to rise by 9,000 b/d month-over-month in November to 515,000 b/d and 474,000 b/d, respectively. The Bakken is projected to gain 8,000 b/d during the month to 1.1 million b/d.
The Anadarko’s DUC tally rose by 25 in September to 962, while the Niobrara’s gained 16 to 742. The Bakken’s was static at 772.
Eagle Ford oil output is forecast to increase 2,000 b/d in November to 1.216 million b/d. Its DUC count jumped by 43 in September to 1,444 despite the residual effects of Hurricane Harvey and an ongoing rig count decline that started in June.
EIA also projects second-half crude production increases in the Niobrara, up 75,000 b/d to 500,000 b/d; the Anadarko, up 42,000 b/d to 460,000 b/d; the Bakken, up 31,000 b/d to 1.1 million b/d; and the Eagle Ford, up 5,000 b/d to 1.2 million b/d.
EIA forecasts natural gas production from the seven regions to climb 827 MMcfd month-over-month in November to 60.94 bcfd.
Each region is seen contributing an increase, with the Appalachia region up 398 MMcfd to 25.693 bcfd, Permian up 154 MMcfd to 9.059 bcfd, Haynesville up 146 MMcfd to 7.27 bcfd, Niobrara up 50 MMcfd to 4.769 bcfd, Anadarko up 38 MMcfd to 5.994 bcfd, Bakken up 23 MMcfd to 2.028 bcfd, and Eagle Ford up 18,000 b/d to 6.124 bcfd.
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AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.
TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.
ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.
FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.