← Go back to All Blogs
  • entries
    151
  • comments
    12
  • views
    35,921

Niobrara (CO & WY) – update through February 2020

This article contains still images from the interactive dashboards available in the original blog post. To follow the instructions in this article, please use the interactive dashboards. Furthermore, they allow you to uncover other insights as well.

US50342.png

Visit ShaleProfile blog to explore the full interactive dashboard

 

These interactive presentations contain the latest oil & gas production data, from all 11,990 horizontal wells that started production in Colorado and Wyoming since 2009/2010, through February.

Originally I planned to do a post on the Permian today, but we just noticed that more up-to-date data will be available in our services tomorrow. Therefore, I postponed that post to early next week. It has been a year since we took a closer look at Colorado & Wyoming, so I opted for this area instead.

Total production

Oil production in these 2 states set a record in November last year at 734 thousand bo/d, more than double the rate compared with early 2017. However, in February it was down to 670 thousand bo/d.

Supply Projection dashboard

Drilling activity has already steadily declined since February 2019 (52 horizontal rigs) and reached a decade low last week at 11 rigs, according to the Baker Hughes rig count.

In our publicly available Supply Projection dashboard you can see that if this level of drilling activity would not change, production would drop off quickly to less than half the February output:

CO-WY.png

Projected oil supply in Colorado & Wyoming, with no changes in rig count and productivity

 

If you missed our webinar on this dashboard, you can still find a recording here: Supply Projection webinar (YouTube)

Well productivity

In the bottom plot on the ‘Well quality’ tab you’ll find that well productivity made a big leap forward in 2017, but has since not further increased.

Top operators

Last year, Occidental purchased Anadarko and it is now the leading producer in this area (see “Top operators”).

The following dashboard, from our analytics service (Professional), shows the location and performance of the ~2,100 horizontal wells that it currently operates in Weld County, that came online since 2012:

OXY.png

Occidental’s well positions and performance in Weld County (CO) since 2012

As you can see, the wells that it now operates have struggled to show better productivity since 2014. The wells that started production in that year recovered almost 130 thousand barrels of oil (together with 0.9 Bcf of natural gas) in the first 5 years on production, on average.

Advanced Insights

The ‘Advanced Insights’ presentation is displayed below:

Adv.5.png

This “Ultimate recovery” overview shows how these horizontal wells are heading towards their ultimate recovery. They are grouped by the year in which production started.

Finally

We’re currently working on adding the directional surveys to our data and analytics platform, which will allow us to precisely show and measure the wellbore paths. For Colorado, we aim to make these available in our analytics service before the end of the month (for North Dakota they are already available on our maps).

If you have been greatly impacted due to the direct or indirect effects of the pandemic and your work was/is some way related to the shale industry, you may want to take a look at our offer here: ShaleProfile COVID Hardship Offer

As mentioned earlier, we should have a new post on the Permian early next week. For most wells, March production data will be available in our subscription services some time tomorrow.

Production data is subject to revisions.

Sources

For this presentation, I used data gathered from the following sources:

  • Colorado Oil & Gas Conservation Commission
  • Wyoming Oil & Gas Conservation Commission
  • FracFocus.org

Visit our blog to read the full post and use the interactive dashboards to gain more insight: https://bit.ly/3dJ7iT1

Follow us on Social Media:

Twitter: @ShaleProfile

LinkedIn: ShaleProfile

Facebook: ShaleProfile

Sign in to follow this  
Followers 0


0 Comments


Recommended Comments

There are no comments to display.

Guest
You are posting as a guest. If you have an account, please sign in.
Add a comment...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.