These interactive presentations contain the latest oil & gas production data from 132,866 horizontal wells in 13 US states, through December 2019. Cumulative oil and gas production from these wells reached 13.7 billion bbl and 157 Tcf of natural gas. This is the first time that Oklahoma is included in these public updates. West Virginia, which just released Q4 production data, is also up-to-date.
Visit ShaleProfile blog to explore the full interactive dashboard
Oil production from horizontal wells ended last year at around 8.1 million bo/d (after upcoming revisions), an increase of 0.8 million bo/d compared with the year before. Natural gas production also continued to rise last year and came in at 80 Bcf/d in December (toggle “Product” to gas), with Texas and Pennsylvania contributing more than half (select to show production by state).
Well productivity in the oil basins grew about 5% in 2019 (“Well quality” tab), the smallest percentage since 2013.
Supply Projection dashboard
However, with the dramatic drop in oil prices, the rig count has started a steep decline, similar as in 2015. In the past weeks, we have seen many questions about how this may impact oil & gas production in the US tight basins. We, therefore, decide to develop a dashboard in which these kinds of questions can easily be answered. As we think that it is crucial for people affected by the current circumstances to understand how future scenarios might look like, we have made this dashboard for the time being (at least for a couple of weeks), not only available in ShaleProfile Analytics (Professional), but also publicly available on our website: US Tight Oil & Gas Projection!
The default setting will show what might happen if nothing changes (no changes in rig count and rig & well productivity), but by changing the parameters available you can simulate many scenarios, for example, what would happen if no more new wells are completed:
Projection of oil production in US tight basins with no new completed wells
The instructions available on this page and in the dashboard will show you the few simple steps that it took to get this.
Early next week we will have a new post on North Dakota, which just released February production data (now available in our subscription services).
Production data is subject to revisions.
For these presentations, we used data gathered from the sources listed below.
- Arkansas Oil & Gas Commission
- Colorado Oil & Gas Conservation Commission
- Louisiana Department of Natural Resources. Similar to Texas, lease/unit production is allocated over wells in order to estimate their individual production histories.
- Montana Board of Oil and Gas
- New Mexico Oil Conservation Commission
- North Dakota Department of Natural Resources
- Ohio Department of Natural Resources
- Oklahoma Corporation Commission – Oil & Gas Division
- Oklahoma Tax Commission
- Pennsylvania Department of Environmental Protection
- Texas Railroad Commission. Individual well production is estimated through the allocation of lease production data over the wells in a lease, and from pending lease production data.
- Utah Division of Oil, Gas, and Mining
- Automated Geographic Reference Center of Utah.
- West Virginia Department of Environmental Protection
- West Virginia Geological & Economic Survey
- Wyoming Oil & Gas Conservation Commission
Visit our blog to read the full post and use the interactive dashboards to gain more insight: https://bit.ly/39WFjx7
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