The Shale Bust Is More of a Loud Whimper

Crude oil and natural gas production in the Lower 48 States’ seven most prolific drilling areas will fall only slightly from February-to-March, the U.S. Energy Information Administration projects. The EIA’s February Drilling Productivity Report expects oil production to drop just 92,000 barrels per day (BPD), to more than 4.9 million barrels per day (MMBPD) in March, from 5.02 MMBPD in February. On the gas side, production from February to March slips 451 million cubic feet per day (MMcf/d), to 44.71 billion cubic feet per day (Bcf/d), from 44.26 Bcf/d in February, Kallanish Energy reports. The drilling report concentrates on the Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian and Utica drilling areas which, combined, represent 92% of domestic oil production growth and all domestic natural gas production growth during 2011-14. Five of the seven drilling regions ae expected to report a drop in crude production, with the biggest drop, more than 50% of the total decreas
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