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Permian – update through April 2020

These interactive presentations contain the latest oil & gas production data from all 27,497 horizontal wells in the Permian (Texas & New Mexico) that started producing from 2008/2009 onward, through April.

Permian-uyiho152431.png

Visit ShaleProfile blog to explore the full interactive dashboard

Total production

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.

Well productivity

In the “well quality tab” the production profiles for all these wells are displayed. Well productivity edged higher last year, as can be viewed in the bottom graph.

Top operators

In the final tab the production and locations are shown for the 20 largest oil producers in the Permian. Exxon Mobil was one of the few operators that set a new record in April. Chevron, the number 8, just announced its acquisition of Noble Energy, which you’ll find at the bottom of this list. Most of Noble’s unconventional production comes from the DJ-Basin, although its share from the Permian has risen.

Advanced Insights
 

The ‘Advanced Insights’ presentation is displayed below:

Adv6rdftugyihuoj.13.png

This “Ultimate recovery” overview displays the average production rate for these wells, plotted against their cumulative recovery. Wells are grouped by the year in which production started.

Gas oil ratio

In the 9th tab the gas/oil ratio is displayed, by vintage (top chart) and overall (bottom chart). The gas/oil ratio has increased in the past 2 years from 3.0 Mcf per bbl in early 2018 to 3.7 in April this year.

Finally

More recent data is available in our subscription services (90%+ of the wells in the Permian already have April production data). We will have a new post on the Eagle Ford later this week.

Production and completion data are subject to revisions.

Note that a significant portion of production in the Permian comes from vertical wells and/or wells that started production before 2008, which are excluded from these presentations.

Sources

For these presentations, I used data gathered from the following sources:

  • Texas RRC. Oil production is estimated for individual wells, based on a number of sources, such as lease & pending production data, well completion & inactivity reports, regular well tests, and oil production data.
  • OCD in New Mexico. Individual well production data is provided.
  • FracFocus.org

Visit our blog to read the full post and use the interactive dashboards to gain more insight: https://bit.ly/3joXwJq

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