Shale output at seven major U.S. oil and gas plays will climb by 131,000 barrels per day next month to hit a 6.954 million bpd according to a new report by the Energy Information Administration (EIA) on Monday. The Permian Basin, in New Mexico and Texas, will see the biggest climb, the data shows. The basin, which has developed itself as the ground zero of the next shale boom, will see an 80,000-bpd jump in production. Texas’ Eagle Ford basin, as well North Dakota’s Bakken and Nebraska’s Niobrara basins will also see sizeable jumps, totaling 47,000 barrels per day. “EIA’s approach does not distinguish between oil-directed rigs and gas-directed rigs because once a well is completed it may produce both oil and gas; more than half of the wells produce both,” the report clarified. After the oil price crash that began in mid-2014, crude oil production growth in the […]