US
US – update through May 2021
US tight oil production rose by 100 thousand b/d in May, to 7.2 million b/d (after upcoming revisions). This was almost a million b/d higher than a year earlier, when extremely low prices caused a significant part of production to be curtailed. But compared with the peak in November 2019, output fell by almost 1.5 million b/d. Natural gas production (excl. Ohio & West Virginia) grew slightly as well, to a fresh record at just above 70 Bcf/d.US – update through April 2021
US tight oil production was flat in April, month-over-month, at 7.1 million b/d (after upcoming revisions). Natural gas production (excl. Ohio & West Virginia) set a new record in April, at 70 Bcf/d.US – update through March 2021
March US tight oil production more than made up for the 1 million b/d loss in February, and at 7.1 million b/d was slightly higher than the January level. Natural gas production (excl. West Virginia) also recovered by 6 Bcf/d, and was at 73.6 Bcf/d just 3% below the historical peak in November 2019 (76.1 Bcf/d).US – update through February 2021
US tight oil production fell by 1 million b/d to 6 million b/d in February, the lowest level in 3 years, as cold winter weather affected production in several states. This was just a blip, and based on preliminary data we expect production to have fully recovered in March.US – update through January 2021
US tight oil production fell by less than 1% in January m-o-m, to 6.9 million b/d (after upcoming revisions, hz. wells only). Tight gas output continued its upward trend since last May, although it is still below the March 2020 high (toggle Product to gas to see this).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.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.US – update through October 2020
US tight oil production was basically unchanged in October, at nearly 7.0 million bo/d. Over 500 horizontal wells came online for the month, a higher number than in the preceding 5 months, but far lower than the more than 1,000 wells we saw in a typical month in 2019.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.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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