Oil and gas production in the Permian will hit new records next month, according to the EIA. Oil Production in the Permian will surpass 4 million barrels per day (MMbpd) in March. That’s according to the U.S. Energy Information Administration’s (EIA) latest drilling productivity report, which forecasts that oil output in the region will rise from 3.98 MMbpd in February to 4.02 MMbpd next month. The projected oil production figure for March would be a new record for the area, according to EIA data stretching back to 2010, which shows that oil output in the region stood at under 1 MMbpd nine years ago. The EIA’s new drilling productivity report also predicts that gas production from the Permian will hit 13.39 billion cubic feet per day (Bcf/d) in March, up from a forecasted 13.17 Bcf/d in February. This would also be a new record for gas production from the […]