Permian Basin on track for top shale oil producerPermian Basin on track for top shale oil producerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=63142013-09-24T09:48:00Z2013-09-17T13:00:00Z

PERMIAN BASIN - Between January and June of 2013, the Permian Basin has already surpassed oil production in the Eagle Ford, showing 889,808 barrels each day compared to the 598,706 barrels per day in South Texas, according to the Texas Railroad Commission.

The top producer in the Permian Basin is Houston’s Occidental Permian Ltd., which produced more than 20 million barrels during first half 2013.

Irving-based Pioneer Natural Resources USA Inc. was next with more than 12 million barrels of oil production, and rounding out the top three was Houston’s Apache Corp., which produced almost 10 million barrels.

The Permian Basin oil production will reach 2 million barrels of oil per day within the next five years, said Stephen Shepherd, an associate in the exploration and production research group at Simmons and Company International in Houston.

As production moderates in the Dakotas' Bakken Shale, the Permian is expected to fill the gap, said Shepherd. Simmons and Company expects the Eagle Ford to surpass the Bakken in oil production sometime in 2014.

In 2013, the Eagle Ford is on track to produce about 930,000 barrels of oil per day. The Williston Basin in the Bakken Shale is producing in 2013 a little more than 1 million barrels, and those two are expected to flip in 2014. The Permian should produce around 1.4 million in 2013.

The Eagle Ford is expected to continue at the current pace while the Permian will accelerate production, driven by horizontal drilling.

Houston Business Journal
Infrastructure & Transportation
http://www.bizjournals.com/houston/blog/drilling-down/2013/09/permian-basin-on-track-to-be-top-shale.htmlRead more at {Source}

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