Blogs

 

OILESS

Oil use is overestimated. Our perceived outlook on the importance of oil is completely distorted.  Humans have a hard time looking both into the past, and also into the future.  Unless someone has done extensive research on history of all eras, and had real conclusions on just how the world works, until someone has then used this same historical approach and applied it to the future, how then can one really have a bearing on where they stand in the scale of things.  OIl is a revenue generator, l

Danial Gable

Danial Gable

 

Crumbling america

Under certain conditions the economy becomes very wasteful, and this is a recipe for disaster.   The public debt load is unsustainable under the current economic conditions. They are reasonable under real growth, but currently, the US is not under stable conditions.  The largest Us global corps are falling deeply behind the rest of the world. Companies like Lockheed and Boeing are large employers in the arms trade. This is an extremely vulnerable industry. The oil and gas, coal and even natural

Danial Gable

Danial Gable

 

Bull Run Not Over?

Oil is on an upward climb. I dont see this bull run easing. In my opinion, This industry only has so much life left in it, as we can all clearly see a carbon free future. With so little time, and still so much money to make, it makes more sense to drive up the price real high. This is beneficial on many levels, as it encourages green tec development, almost real time with each increase in price.  Also, then the billions of dollars produced will and can help catapult society into a green era.  It

Danial Gable

Danial Gable

Eagle Ford - update through June 2018

This interactive presentation contains the latest oil & gas production data from all 21,081 horizontal wells in the Eagle Ford region, that started producing since 2008, through June. Visit ShaleProfile blog to explore the full interactive dashboards In the first half of this year, oil production from horizontal wells has hovered just above 1.2 million bo/d, while gas output stood at about 5.8 Bcf per day.   Unlike the Permian, production growth is rather timi

shaleprofile

shaleprofile

Permian – update through June 2018

This interactive presentation contains the latest oil & gas production data through June from all 16,770 horizontal wells in the Permian (Texas & New Mexico) that started producing since 2008/2009. Visit ShaleProfile blog to explore the full interactive dashboards Even though data for the last few months is still somewhat incomplete, it is already clear that the Permian set another production record in June, producing well above 2.4 million bo/d from these horizontal wells

shaleprofile

shaleprofile

Niobrara (CO & WY) - update through July 2018

This interactive presentation contains the latest oil & gas production data through July, from all 8,221 horizontal wells that started production in the Niobrara region (Colorado & Wyoming) since 2009/2010. Although we had a post on this region just 3 weeks ago, as we now have reliable data up through July, I wanted to share another update. A few percent of the wells were not yet reported in July, so there will be some upward revisions.   Visit ShaleProfile blog to ex

shaleprofile

shaleprofile

Marcellus (PA) – update through July 2018

This interactive presentation contains the latest gas (and a little oil) production data, from all 8,298 horizontal wells in Pennsylvania that started producing since 2010, through July. It also contains the production data from Ohio & West Virginia, but as these states have a greater lag in their reporting, only Pennsylvania is preselected in most views.   Visit ShaleProfile blog to explore the full interactive dashboards As you can see, unconventional gas production fro

shaleprofile

shaleprofile

North Dakota – update through July 2018

These interactive presentations contains the latest oil & gas production data from all 13,628 horizontal wells in North Dakota through July, that started production since 2005. July oil production in North Dakota came in at 1,269 kbo/d, after a month-on-month rise of 3.4%, setting a new record for the state. Visit ShaleProfile blog to use and explore interactive dashboards   An important factor behind this jump were the 141 new wells that started production, the hig

shaleprofile

shaleprofile

US - update through May 2018

This interactive presentation contains the latest oil & gas production data through May, from 91,810 horizontal wells in 10 US states. Cumulative oil and gas production from these wells reached 8.9 Gbo and 98.6 Tcf. Their total oil production was close to 5.5 million bo/d in May, or more than half of total US oil supply, while gas production topped 50 Bcf/d.   If you group this total oil production by ‘production level’, using the ‘Show production by’ selection, you will

shaleprofile

shaleprofile

Niobrara (CO & WY) - update through May 2018

This interactive presentation contains the latest oil & gas production data through May, from all 7,962 horizontal wells that started production in the Niobrara region (Colorado & Wyoming) since 2009/2010. As shown in the graph below, 2017 was a similarly strong year for oil production growth as 2013, with more than 150 thousand bo/d added. Since end of last year, production from unconventional horizontal wells has remained just below half a million bo/d. In May about 70% of total o

shaleprofile

shaleprofile

Eagle Ford - update through May 2018

This interactive presentation contains the latest oil & gas production data through May from 20,900 horizontal wells in the Eagle Ford region, that started producing since 2008. In the first 5 months of this year, oil production from these wells has hovered around a level of 1.2 million barrels of oil per day. This was a few percent above the output 12 months earlier, but lower than the level reached in Q4 last year.   Although well performance has also steadily shown imp

shaleprofile

shaleprofile

Permian – update through May 2018

This interactive presentation contains the latest oil & gas production data through May from all 16,326 horizontal wells in the Permian (Texas & New Mexico) that started producing since 2008/2009. In this update we were able to include more recent wells, which explains the higher (~10%) production level.   Output has surged higher in the first 5 months of 2018, following the rapid rise in 2017. As the graph shows, about 75% of total oil production in May came from wells th

shaleprofile

shaleprofile

Marcellus (PA) – update through June 2018

This interactive presentation contains the latest gas (and a little oil) production data through June, from all 8,236 horizontal wells in Pennsylvania that started producing since 2010. Gas production from these wells has hovered around a level of 16 Bcf/d in the first half of 2018. During this period, 351 horizontal wells started production versus 299 in the year before.   In the ‘Well quality’ tab, the production profiles of all these wells can be found, averaged by the yea

shaleprofile

shaleprofile

North Dakota – update through June 2018

This interactive presentation contains the latest oil & gas production data through June from all 13,628 horizontal wells in North Dakota that started production since 2005. June oil production in North Dakota came in at 1,246 kbo/d, after a month-on-month drop of ~1.5%. As shown in the below graph, wells that started production since 2017 contributed about half of total oil production in June.   If you switch to gas, you’ll see that natural gas production has risen

shaleprofile

shaleprofile

 

Ready To Adopt Those Renewables?

I read an article today from The Independent reminiscent of many similarly themed articles. It was about solar panels. The personal use kind—the kind you install on your roof. It didn’t really tell me anything new. The gist of the article was that there was this new survey conducted. And in this survey, they asked British folk whether they wanted to install solar panels on their roofs. The survey had found that “the majority of” British people would like to install solar panels if “g

Rodent

Rodent

US - update through April 2018

This interactive presentation contains the latest oil & gas production data through April, from 90,168 horizontal wells in 10 US states. Cumulative oil and gas production from these wells reached 8.7 Gbo and 96.7 Tcf. The number of well completions in the 2nd half of 2017 was about 60% higher than the average level in 2016, which explains most of the rise in output over the past year. Average initial well productivity in the oily basins did not change much over this period, as

shaleprofile

shaleprofile

Eagle Ford - update through April 2018

This interactive presentation contains the latest oil & gas production data through April from 20,207 horizontal wells in the Eagle Ford region, that started producing since 2008. Despite significant future upwards production revisions, which are typical for Texas, it appears that total oil and gas production has declined in the Eagle Ford since December.   It also appears that the wells that started producing in 2018 are so far closely tracking the performance of wells f

shaleprofile

shaleprofile

Permian – update through April 2018

This interactive presentation contains the latest oil & gas production data through April from all 15,532 horizontal wells in the Permian (Texas & New Mexico) that started producing since 2008/2009. The graph above shows the rapid growth of unconventional oil production from horizontal wells in the Permian where total oil output doubled in the past 2 years. As usual for this region, recent data is incomplete, and I expect that after revisions April production has set another record

shaleprofile

shaleprofile

Marcellus (PA) – update through May 2018

This interactive presentation contains the latest gas (and a little oil) production data through April, from all 8,137 horizontal wells in Pennsylvania that started producing since 2010. After the significant jump in output at the end of last year, gas production has remained fairly steady at a level around 16 Bcf/d, and just like in the past 3 years there was a small dip in May. Only 252 horizontal wells started production in Pennsylvania in the first 5 months of this year, which

shaleprofile

shaleprofile

 

Capital for Independents Take on a New Look

Capital for small independents has been an issue since the downturn and doesn't appear to be abating even with $65-70 oil.  Banks have been less interested in providing much needed capital to these smaller entities. When the oil market crashed in 2014, there were 177 bankruptcies as a result.  Why did they occur?  Simple... the banks lent the oil companies money based on their reserves, valued at $80-100 per barrel.  When the market crashed to $27 a barrel, the banks called the loans but th

North Dakota – update through May 2018

This interactive presentation contains the latest oil & gas production data through May from all 13,545 horizontal wells in North Dakota that started production since 2005. May oil production in North Dakota came in at 1,245 kbo/d, after a month-on-month increase of 1.6%. This pushed production higher than the previous all-time high in December 2014.   Recent wells are closely tracking the performance of the wells that started in 2017 (see the bottom graph in the ‘Well qu

shaleprofile

shaleprofile

US – update through March 2018

This interactive presentation contains the latest oil & gas production data through March, from 88,617 horizontal wells in 10 US states. Cumulative oil and gas production from these wells reached 8.6 Gbo and 94.2 Tcf. The latest data for Ohio, which just released Q1 production figures, is also included. Only data for West Virginia is not up-to-date, and therefore this state has been deselected in most views.   With the surge in drilling and completion activity since early 2017

shaleprofile

shaleprofile

Eagle Ford – update through March 2018

This interactive presentation contains the latest oil & gas production data through March from 20,615 horizontal wells in the Eagle Ford region (TRRC districts 1-4), that started producing since 2008. Growth is tepid in the Eagle Ford basin, and recent oil output remains well below the high set in March 2015, even after upcoming upward revisions.   Although well productivity has also improved in this basin, as shown in the ‘Well quality’ tab, the effect has been more mode

shaleprofile

shaleprofile