These interactive presentations contain the latest oil & gas production data from all 19,523 horizontal wells in the Permian (Texas & New Mexico) that started producing since 2008/2009, through December.
Visit ShaleProfile blog to explore the full interactive dashboards
December oil production came in at around 3.1 million bo/d (after revisions), 1 million bo/d higher than a year earlier. Close to 4,400 horizontal wells were completed in 2018, 23% more than in 2017. As is represented by the blue area in December 2018, about 2/3rd of December production came from wells that began production in 2018.
If you switch ‘Product’ to gas, you’ll find that natural gas production increased to almost 10 Bcf/d, which is even more than is produced in the Haynesville Basin.
The final tab shows the production histories of the 5 largest operators of horizontal wells. They all have strongly increased output in the past 2 years, and are at or near production highs.
The ‘Advanced Insights’ presentation is displayed below:
This “Ultimate recovery” overview shows the average production rate for these wells, plotted against their cumulative recovery. Wells are grouped by the quarter in which production started.
The wells that started in Q2 2016 (dark brown curve) have now recovered the most oil, with just over 200,000 barrels of oil produced on average. Newer wells are on a slightly higher trajectory.
In the 2nd tab you’ll find all counties in the Permian, ranked by cumulative production, from horizontal wells since 2008. Reeves has taken over the 1st spot from Lea County, with 340 million barrels of oil cumulative production. Close to half a million barrels of oil per day were produced in Reeves in December.
Later this week we will have a post on the Eagle Ford, followed by an update on all covered states in the US early next week.
Production data is 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.
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 proration data.
- OCD in New Mexico. Individual well production data is provided.
Visit our blog to read the full post and use the interactive dashboards to gain more insight http://bit.ly/2I0WJhy