Posts by: Enno Peters
Pennsylvania – update through November 2020
Pennsylvanian natural gas production jumped in November (as it often does) and set a new record at almost exactly 20 Bcf/d. The previous high was a year earlier in November 2019 at 19.6 Bcf/d. As is visualized almost half of this output in November was produced from wells that came online in the past 2 years.Eagle Ford – update through October 2020
Tight oil production in the Eagle Ford was unchanged m-o-m at 1.1 million bo/d in October (after upcoming revisions). Compared with December 2019, the basin has lost 300 thousand bo/d. The main reason was that fewer than half the number of wells were completed through October than in the year before (882 vs 1,817).Permian – update through October 2020
Permian tight oil production fell in October by 1% m-o-m to below 3.7 million bo/d (after upcoming revisions). Over 1/3rd fewer wells were completed in the first 10 months of 2020 (~2,800), compared with the same period in 2019 (4,568). Gas production has held up at nearly 15 Bcf/d.North Dakota – update through November 2020
Oil production in North Dakota fell by less than 1% in November at just below 1.18 million bo/d. This was a tad lower than the first peak in December 2014 (1.19 million b/d). Although more than 2,100 wells are still shut-in (up from 1,500 before the pandemic started and down from the 4,300 in May), I don’t expect this number to fall by much anymore, as it hasn’t over the last month. Through November 2020, 551 wells started production, which was less than half compared with the same period in the year before (1,176).US – update through September 2020
US tight oil production was flat m-o-m in September at 7.0 million bo/d (after upcoming revisions, including estimates for Oklahoma). Again some 1,500 horizontal wells that were temporarily shut-in came back online, which helped stem the underlying decline.Haynesville – update through September 2020
Natural gas production came in just above 10 Bcf/d in September (after upcoming revisions), down by 1 Bcf/d since May, but it has more than doubled since 4 years ago.Eagle Ford – update through September 2020
Tight oil production in the Eagle Ford held up at 1.1 million bo/d in September (after upcoming revisions). As is visible in the chart above, output from the ~2,800 wells that began production in the last 2 years contributed to 50% of total output in September.Permian – update through September 2020
Permian tight oil production held steady for the 3rd consecutive month in September, at close to 3.8 million bo/d (after upcoming revisions). This represents a drop in oil output of about 10% since March, which is just half of what the all the other tight basins lost combined (~20%). At 3.2 million bo/d, they produce well below the level in this basin.North Dakota – update through October 2020
Oil production in North Dakota fell by 1% in October to just below 1.2 million bo/d, despite that more than 100 temporarily shut-in wells were brought back online. The main reason for the drop was that between May and October only 1 well was completed every day, on average, far below the level required to maintain current output (~3 wells/day).US – update through August 2020
US tight oil production made another small gain in August to almost 7.0 million bo/d (after upcoming revisions), as another 1,500 horizontal wells were returned to production. Tight gas output was flat m-o-m at 63 Bcf/d (excl. Ohio and West Virginia), down by 5 Bcf/d from the March level (68 Bcd/d).
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