Posts by: Enno Peters
North Dakota – update through February 2021
Oil production in North Dakota from horizontal wells fell by 6% m-o-m, to 1.05 million bo/d in February, based on preliminary data. Only 1 well came online every day in the first 2 months, on average, while more than 2 are required to sustain the current output.US – update through December 2020
US tight oil production fell below 7.0 million bo/d in December, the first time in the 2nd half of last year. Fewer than 7,500 horizontal wells were completed within this 12 states in 2020, significantly lower than the 13 thousand that came online in each of the previous two years. The y-o-y decline in output was therefore large in December, at around 1.5 million bo/d, as you’ll find in the graph above.Pennsylvania – update through January 2021
Natural gas production in Pennsylvania set a fresh record in January, at 20.8 Bcf/d (hz. wells only), despite that only 39 new horizontal wells came online.Eagle Ford – update through December 2020
Tight oil production in the Eagle Ford fell by 2-3% in December to about 1.05 million bo/d (after upcoming revisions). The ~1,030 wells that came online last year were only able to replace half of the 600 thousand bo/d base decline. In the previous 2 years, with more than 2,000 wells completed each year, output in the basin was still growing.Permian – update through December 2020
Permian tight oil production was basically unchanged in December at close to 3.8 million bo/d (after upcoming revisions, hz. wells only). The ~3,700 horizontal wells that came online in 2020 replaced almost 1.7 million b/d of the underlying base decline of 2.0 million b/d for the year.DJ-Niobrara – update through December 2020
Oil production in the DJ-Niobrara fell by almost 1/3rd from 579 thousand b/d to 390 thousand b/d in the 13 months from the peak in November 2019 through December last year. The wells in this area have high decline rates and in 2020 fewer than half the number of wells were completed (588) than in the years before. December production was the lowest level in over 3 years.Haynesville – update through December 2020
Natural gas production came in close to 11 Bcf/d in December (after upcoming revisions), approaching the peak of May 2020, even though fewer wells were completed in 2020 compared with the 2 years before (~350 vs. 421 & 432 in 2019/2018).North Dakota – update through January 2021
Oil production in North Dakota fell by 4% m-o-m, to 1.11 million bo/d in January, based on preliminary data. Just 25 new wells came online, the lowest number in at least 12 years, except for May last year when the number was 17. In the past 2 months, 12 rigs were drilling horizontal wells in the state, which in our estimation is about half of what would be needed to maintain current output.US – update through November 2020
US tight oil production continued to hover at a level close to 7.0 million bo/d in November, for the 5th consecutive month. Natural gas did a little better, as it slightly rose to above 65 Bcf/d. which was only 3 Bcf/d below the record set in March.Pennsylvania – update through December 2020
Pennsylvania has been setting natural gas output records every year for over a decade, and 2020 was no exception; a fresh record was recorded in December at 20.6 Bcf/d. This was done despite a decade-low in the number of well completions (561 in 2020, vs. 713 in 2019).
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