Posts by: Enno Peters
Pennsylvania – update through August 2020
Natural gas production came in at about 19.5 Bcf/d in August (after upcoming revisions), almost touching the high in November last year. Only 382 horizontal wells were brought online this year through August, the lowest number in a decade.Eagle Ford – update through July 2020
Like the Bakken and the Permian, oil production in the Eagle Ford also continued to recover in July, to close to 1.1 million bo/d (after upcoming revisions). But decline rates are higher here than in the other 2 tight oil basins, and in combination with the lack of new drilling output is falling steeper.Permian – update through July 2020
Oil production in the Permian recovered further in July, to around 3.8 million bo/d (after upcoming revisions). Natural gas production was at over 14 Bcf/d close to the March high (toggle Product to gas to see this).North Dakota – update through August 2020
Oil production in North Dakota continued to recover in August from the low in May, as it climbed to just above 1.1 million bo/d. About 700 more wells that were temporarily shut-in came back online in August, compared with almost 1,000 in the month before. Another 1,000 wells (above the March level) remain shut-in.US – update through June 2020
US tight oil production rebounded in June by about 0.4 million bo/d to 6.4 million bo/d, as operators brought some wells back online with the improved pricing environment. Natural gas output stayed flat at 73 Bcf/d.Pennsylvania – update through July 2020
Natural gas production jumped almost 1 Bcf/d higher in July to 19.2 Bcf/d, nearing the record set in November last year (19.6 Bcf/d). Prices also started to recover in July, from the ultra-low level in June ($1.63/Mcf). Almost 60 wells came online, vs. just 32 in the month before.Eagle Ford – update through June 2020
After a 30% drop in May, Eagle Ford oil production recovered by almost 100 thousand bo/d to close to 1 million bo/d in June (after upcoming revisions). Although natural gas production has held up better (toggle “Product” to gas), output for the month (~5.4 Bcf/d) was not far above the 2017 low.Permian – update through June 2020
Oil production in the Permian recovered by over 200 thousand bo/d in June, to around 3.7 million bo/d (after upcoming revisions). An important reason for the increase was of course that operators brought wells back online, after oil prices improved from the terrible lows in the 3 months before.North Dakota – update through July 2020
North Dakota oil production recovered further in July to just above 1 million bo/d. This was about 150 thousand bo/d higher than in June, most of it due to existing wells being put back on production. Through July 423 new wells were completed, far below the level in the same period last year (719), but still higher than seen in 2016 (381). Just below 3,200 horizontal wells were inactive (not producing anything) in July, a drop of 1,000 compared with the month before. The number of inactive wells at the start of the year was about half (1,600).US – update through May 2020
US tight oil production fell in May by about 1.4 million bo/d to 6.0 million bo/d, while natural gas declined by 5 Bcf/d. These monthly declines were twice the size compared with April. This stunning collapse was of course caused by operators who decided to shut in wells and delay completions, due to the low pricing environment. Based on preliminary data (available in our subscription services), most basins saw a slight recovery in June and July as some oil wells were brought back online.
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