Posts by: Enno Peters
Haynesville – update through May 2020
Natural gas production came in close to 11 Bcf/d in May (after upcoming revisions), more than double the level compared with 4 years earlier, and far above the earlier peak set in 2011. What happened in the last 4 years?Pennsylvania – update through June 2020
Natural gas production fell by 0.4 Bcf/d in June to 18.4 Bcf/d, after a slightly larger drop in the month before. Year-over-year growth was just 0.15 Bcf/d. Natural gas prices hit a record low in June of just $1.63 per Mcf, the lowest so far in the 21st century. Only 32 new wells were brought online in June, compared with 56 a year earlier.Eagle Ford – update through May 2020
Oil production collapsed in May to 0.9 million bo/d (after upcoming revisions), a m-o-m decline of ~300 thousand bo/d. This brought output back to a level last seen 7 years ago.Permian – update through May 2020
Production from horizontal wells in the Permian fell by around 0.5 million bo/d in May to 3.3 million bo/d, the largest monthly decline since the shale revolution started here. Based on preliminary data for June (already available in our subscription services), it appears that a far smaller drop happened in the month after.North Dakota – update through June 2020
North Dakota oil production rose by 30 thousand bo/d in June to just shy of 0.9 million bo/d, after 2 months of steep declines. Despite the uptick in output, this was still half a million bo/d below the level at the start of the year.US – update through April 2020
US shale oil & gas production fell by about 700 kbo/d and 2.5 Bcf/d in April (after upcoming revisions) the largest absolute and relative m-o-m declines since the start of the shale boom. Of course the low, and even negative, oil prices in March and April were the main cause, which led many operators to shut in their oil wells.Pennsylvania – update through May 2020
Natural gas production in this state fell by almost 0.5 Bcf/d in May, a larger decline than is common for this month. Compared with last year, output is still up by 0.6 Bcf/d. At 241, fewer wells came online in the first 5 months of the year than in any such period in the past decade.Eagle Ford – update through April 2020
Oil production in the basin fell in April to 1.25 million bo/d, a m-o-m decline of 100 thousand bo/d. This drop was similar in size as experienced in August 2017 when Harvey hit the area. Based on preliminary data, I expect a steeper one in May.Permian – update through April 2020
In April, about 3.9 million bo/d was produced from horizontal wells in the Permian (after upcoming revisions), a m-o-m decline of ~5%. Based on preliminary data for May, which is already for almost 90% complete in our subscription services, I expect to see a larger drop next month of around 10%. These declines are quite a bit smaller, relatively, than that we saw in North Dakota (see the previous blog post), which posted a 30% fall in May.North Dakota – update through May 2020
North Dakota oil production fell by 350 thousand bo/d in May to 0.85 million bo/d, an even larger decline than we saw in the previous month (200 kbo/d). The last time the state produced this much was 7 years ago.
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