US Monthly Update
US – update through September 2019
Even preliminary production data has September oil production in all these states at a new record, at over 7.3 million bo/d. After upcoming revisions, I expect it to finally come in at around 7.5 million bo/d.
US – update through August 2019
Although the horizontal rig count has fallen by 26% since the start of this year (from 941 to 695 last week), oil output in August from horizontal wells still climbed to over 7.1 million bo/d. In the graph above you can find that the contribution from wells that began production since 2018 was just over 2/3rd of the total in August.
US – update through July 2019
July oil production was again at a record level, at well over 7 million bo/d (after upcoming revisions). If you switch product to “gas”, a similar picture emerges for natural gas production.
US – update through June 2019
Oil production from horizontal wells in these states increased slightly in June, to around 7 million bo/d (after upcoming revisions). That would represent a growth of 100 thousand bo/d in the first 6 months, far lower than the ~670 thousand bo/d increase in the same period last year, but still positive.
US – update through May 2019
Oil production from horizontal wells in these states grew to close to 7 million bo/d in May (after upcoming revisions). As is visible in the graph above, the growth rate has significantly fallen since the end of last year.
US – update through April 2019
Oil production from horizontal wells in these states grew to close to 7 million bo/d in April (after upcoming revisions), setting a new record. That would represent a y-o-y growth of 1.3 million bo/d, but the rate at which production is increasing has slowed down since the end of last year.
US – update through March 2019
Shale oil production in these states grew by 1.5 million bo/d last year to over 6.8 million bo/d, as is visible in the graph above. Although preliminary data has the first few months of 2019 down a little, I expect that March set another record, after revisions.
US – update through February 2019
These interactive presentations contain the latest oil & gas production data from 103,883 horizontal wells in 11 US states, through February 2019. A thousand horizontal wells were completed every month last year, on average. But now the frantic growth in oil production in the past 2 years appears to have stalled. Production in the first 2 months of this year was slightly down, although revisions will probably bring the level back up close to the record in December, at just over 6.7 million bo/d.
US – update through January 2019
January production from these wells was at a similar level as a month earlier, with about 6.6 million bo/d (after revisions). The Permian has been responsible for most of the growth in the past 2 years. If you exclude this basin (using the “Basin” filter at the bottom), you will see that combined production in the other basins only surpassed the 2014 peak in December.
US – update through December 2018
December production from these ~100 thousand horizontal wells was above 6.5 million bo/d, a y-o-y growth of 1.3 million bo/d (after revisions). This was a similar growth rate as a year earlier. Natural gas production increased to ~60 Bcf/d, growing by about 10 Bcf/d during the year, which also matched the growth in the previous year.
