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Texas’ Permian shale formation holds the key hopes of a rapid US shale output rebound. Unlike the more mature Bakken and Eagle Ford, Permian output is already rising decisively.
Production is set to rise by 30,000 b/d next month, taking it to a record 2.01mn b/d, according to the latest Drilling Productivity Report from the EIA, released 17 October, with this coming on top of expected 22,000 b/d gains in October.
For the US as a whole, provisional figures from the EIA’s latest Short Term Energy Outlook suggest that crude output rose by 60,000 b/d to 8.4mn b/d in September, the first substantial monthly rise in a year (see chart, p5). (CONTINUED - 714 WORDS)