US - update through September 2017

This interactive presentation contains the latest oil & gas production data from 80,177 horizontal wells in 10 US states, through September last year. Cumulative oil and gas production from these wells reached 7.6 Gbo and 79.8 Tcf.

With several shale basins contributing to growth for the month, September production set a new record for both oil (4.3 million bo/d) and natural gas (37.2 Bcf/d), before revisions. If you deselect the Permian basin (using the ‘Basin’ selection), you can see that overall production in the other basins has been mostly flat since the summer of 2016.

Changing the ‘Show production by’ selection to ‘Formation’ reveals that the Wolfcamp, Middle Bakken, and Eagle Ford formations were responsible for more than half of oil production in September.

EOG, which operates more than 10% of this oil production capacity, has been ramping up production since May 2016 (see the ‘Top operators’ dashboard).

The ‘Advanced Insights’ presentation is displayed below:

 

 

This “Ultimate recovery” overview shows the relationship between cumulative production, and production rates, over time. I’ve preselected the major oil basins, and the wells are grouped by the year in which production started.

The improvements in average well productivity in recent years are clearly visible here: the wells that started in 2016 recovered each close to 100 thousand barrels of oil in the first 10 months, while the ones that started in 2013 needed more than 2 years to do this (on average). If you choose a terminal rate, the curves here allow you to make a reasonable guess at their ultimate recovery.

In the 4th tab (‘Productivity ranking’), all operators are ranked by their average well performance. This is measured by the average cumulative output in the first 2 years (which you can change) over all their wells. Of the major operators with > 100 horizontal wells, WPX is showing the best results, followed closely by QEP. This is still the case after you remove the gas basins, or change the measurement to cover only the first year of production (12 months).

On the Get the Data the latest well and production data is again available, both in Excel, and database formats. I have simplified the purchasing options.

You can follow me on twitter here.

Next week I plan to have a new post on the Marcellus (PA), followed by one on North Dakota in the week after.

Production data is subject to revisions. For these presentations, I used data gathered from the sources listed below.

  • FracFocus.org
  • Colorado Oil & Gas Conservation Commission
  • Louisiana Department of Natural Resources. Similar as in Texas, lease/unit production is allocated over wells in order to estimate their individual production histories.
  • Montana Board of Oil and Gas
  • New Mexico Oil Conservation Commission
  • North Dakota Department of Natural Resources
  • Ohio Department of Natural Resources
  • Pennsylvania Department of Environmental Protection
  • Texas Railroad Commission. Individual well production is estimated through the allocation of lease production data over the wells in a lease, and from pending lease production data.
  • West Virginia Department of Environmental Protection
  • West Virginia Geological & Economical Survey
  • Wyoming Oil & Gas Conservation Commission

====BRIEF MANUAL====

The above presentations have many interactive features:

  • You can click through the blocks on the top to see the slides.
  • Each slide has filters that can be set, e.g. to select individual or groups of operators. You can first click “all” to deselect all items. You have to click the “apply” button at the bottom to enforce the changes. After that, click anywhere on the presentation.
  • Tooltips are shown by just hovering the mouse over parts of the presentation.
  • You can move the map around, and zoom in/out.
  • By clicking on the legend you can highlight selected items.
  • Note that filters have to be set for each tab separately.
  • The operator who currently owns the well is designated by “operator (current)”. The operator who operated a well in a past month is designated by “operator (actual)”. This distinction is useful when the ownership of a well changed over time.
  • If you have any questions on how to use the interactivity, or how to analyze specific questions, please don’t hesitate to ask.