shaleprofile + 243 August 4, 2021 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. Visit ShaleProfile blog to explore the full interactive dashboard These interactive presentations contain the latest oil & gas production data from 145,364 horizontal wells in 13 US states, through April. Ohio & West Virginia are deselected in most dashboards, as they haven’t reported April production data yet. Total production US tight oil production was flat in April, month-over-month, at 7.1 million b/d (after upcoming revisions). Natural gas production (excl. Ohio & West Virginia) set a new record in April, at 70 Bcf/d (toggle the product switch to ‘gas’). Horizontal drilling The horizontal oil-directed rig count in the Lower 48 has more than doubled in the past 12 months, to 346 as last week (according to Baker Hughes). This is still less than half the number that were active 3 years ago, which was the last time when WTI prices were around $70/bbl: US horizontal oil rig count (left-hand side) and WTI price (right-hand side) Completion designs The following chart shows how lateral lengths and proppant loadings have changed in the major tight oil basins (Bakken, Eagle Ford & Permian) since 2013: Completion designs in the major US tight oil basins Lateral lengths have increased from 6.5 thousand feet in 2013 to just over 9 thousand feet. Proppant intensity, as measured by the amount of proppants per lateral foot (shown in the bottom chart), increased sharply through 2017, but has hovered close to 2 thousand pounds per foot for a while now. In the interactive version of this dashboard, you can easily analyze these trends for any operator in any area. Permian well productivity With 2/3rd of the horizontal oil rigs, an important indicator to follow for US shale is well performance in the Permian Basin: Normalized well performance in the Permian basin (rate vs cum., per thousand ft). Horizontal oil wells only. Here we can see the rate vs. cumulative production performance of 22 thousand horizontal oil wells in the Permian, that started production between 2015 and 2020. The production data is normalized for the lateral length. You can find that based on this metric, the best results were obtained by the 2016 vintage wells. These 2,232 wells recovered 37 thousand barrels of oil per thousand feet of lateral length, in the first 4 years on production. A small deterioration in these curves is observable for newer wells. Of course, these are average results with large deviations between operators and areas. Finally Next week we will have a new post on North Dakota, which will release June production data in the coming days (which will be immediately available in our subscription services). Production data is subject to revisions. Sources For these presentations, we used data gathered from the sources listed below. FracFocus.org 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/2VvWILc Follow us on Social Media: Twitter: @ShaleProfile LinkedIn: ShaleProfile Facebook: ShaleProfile 1 1 Quote Share this post Link to post Share on other sites
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