By Mary de Wet
Enterprise Products Partners, a Houston-based pipeline company, projects that production of crude oil, natural gas, and natural gas liquids (NGL) in the Permian Basin will experience significant growth over the next decade.
Crude Oil Production
According to Enterprise's fundamentals group, industry forecasts and current production trends indicate that crude oil production in the Permian Basin is expected to increase by over 700,000 barrels per day (BPD) in 2023. Furthermore, the company predicts that crude oil production will grow by approximately 1.5 million BPD for the three-year period ending in 2025.
Looking even further ahead, beyond 2025, Enterprise anticipates an additional increase of up to 15% in crude oil production from the basin. This could result in a daily output exceeding 7.5 million BPD by the end of 2030.
Natural Gas Liquids Production
In alignment with the expected rise in crude oil production, Enterprise also forecasts a substantial increase in NGL production from the Permian Basin. The company estimates that NGL production will grow by more than 200,000 BPD in 2023 and by 700,000 BPD for the three-year period concluding in 2025.
Looking ahead to the years between 2025 and 2030, Enterprise projects that NGL production could expand by over 500,000 BPD. By the end of 2030, NGL output from the Permian Basin may reach nearly 4.0 million BPD.
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