U.S. Shale Set for 16% Growth in 2019
As if
they’re not already on a roll, U.S. shale operators are on track to increase
oil production by 16 percent in 2019, according to analysis by energy research
firm Rystad Energy.
Rystad said the growth in
U.S. onshore production from first quarter 2019 through fourth quarter 2019
could equate to 1.1 to 1.2 million barrels per day (MMbpd), or 16 percent, for
the full year.
“Despite temporary challenges
faced in the beginning of the year, E&P companies are set to deliver on
their original production and capital targets, with some being well positioned
to perform above initial expectations,” said Rystad Energy senior analyst
Veronika Akulinitseva. “Several operators have in fact raised their production
guidance for the remainder of the year.”
First quarter analysis of 50
shale operators indicated that, on average, U.S. producers saw a slowdown in
oil production growth.
“The slow first quarter implies an even steeper expected growth curve for the remainder of the year. In fact, acceleration of oil production for many operators is already underway and oil additions are thus likely to increase notably already in the second quarter of 2019,” Akulinitseva said.