Permian – update through December 2021

Permian tight oil production was flat at about 4.4 million b/d in December (after upcoming revisions, horizontal wells only). In 2021, some 4,200 horizontal wells were completed, about 20% more than in the year prior, although still well below the over 5,000 wells coming online in both 2018 & 2019.

Permian – update through November 2021

Permian tight oil production rose to 4.4 million b/d in November, a new high (after upcoming revisions, horizontal wells only). Through November, 3,850 horizontal wells were completed, more than in the full year before (3,600).

Permian – update through October 2021

Permian tight oil production set a new output record in October, at 4.3 million b/d (after upcoming revisions, horizontal wells only), just above the previous record from March 2020. Natural gas production is also edging higher, and came in at 17 Bcf/d in October.

Permian – update through September 2021

Permian tight oil production continues to recover and in September topped 4.2 million b/d (after upcoming revisions, horizontal wells only). We expect that earlier in Q4 this year already a new output record was set. Natural gas production rose as well, and was close to 17 Bcf/d in September.

Permian – update through August 2021

Permian tight oil production is slowly accelerating and in August rose to about 4.2 million b/d (after upcoming revisions, horizontal wells only), the highest since April 2020 and less than 300 thousand b/d below the peak in March 2020. Natural gas production is already setting new records every month, and came in at 16.6 Bcf/d in August.

Permian – update through July 2021

Tight oil production in the Permian continued to rise to over 4.1 million b/d in July (after revisions, horizontal wells only). Natural gas production set a new record at 16.5 Bcf/d.

Permian – update through June 2021

Tight oil production in the Permian rose by about 1% in June to about 4.1 million b/d in June (after revisions, horizontal wells only). Natural gas production held flat at above 16 Bcf/d.

Permian – update through May 2021

Tight oil production in the Permian was flat at 4.0 million bo/d in May for the 2nd consecutive month (after revisions, horizontal wells only). Natural gas production most likely set a fresh record at over 16 Bcf/d in May (toggle product to ‘gas’).

Permian – update through April 2021

Tight oil production in the Permian was flat at 4.0 million bo/d in April (after revisions, horizontal wells only). About half of it was produced by wells that were completed since early last year, as is visualized by the light & dark blue areas in the chart above. Natural gas production, at over 15 Bcf/d, was close to record levels.

Permian – update through March 2021

Tight oil production in the Permian rose by 800 thousand bo/d in March (horizontal wells only), more than compensating the fall in the preceding month due to the cold weather. At 3.9 million bo/d, output was the highest since April last year.