Visualizing Permian oil & gas production (through November )

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Permian – update through November 2018

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.

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These interactive presentations contain the latest oil & gas production data from all 19,047 horizontal wells in the Permian (Texas & New Mexico) that started producing since 2008/2009, through November.

Visit ShaleProfile blog to explore the full interactive dashboards

November oil production came in above 3 million bo/d (after revisions), at a y-o-y growth rate of 1 million bo/d. More than 4,200 horizontal wells were completed in 2018 through November, double the number in the same period in 2016.

 

Average well productivity has only increased slightly since 2016, after big gains in the years before, as the ‘Well quality’ tab shows.

 

The 2 largest producers, Pioneer Natural Resources & Concho Resources, are now above 250 thousand bo/d of operated capacity (see “Top operators”).

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 year in which production started.

If you extrapolate these curves, you’ll find that recent wells (2016/2017) are on a path to recover on average about 300 thousand barrels of oil, before their production rate has fallen to 40 bo/d.

Associated gas production is high in the Permian, at well over 9 Bcf/d. If you switch ‘Product’ to gas, you can find the average gas production for the same wells. Newer wells are on average likely to recover 1.5 Bcf of natural gas or more.

 

Today (Tuesday) at noon (EST) we will also present an update on the Permian and the Eagle Ford on enelyst, where we will share our insights in these basins based on the latest data.

Last month many of you subscribed to our analytics service, which offers access to more dashboards, well data, and more recent production data. Thank you! The cheapest subscription version, Analyst, costs just $52/month per user, and you can try it for 1 month for only $19. With this, you will experience some of the analytical power of ShaleProfile Analytics.

 

Later this week we will have a post on the Eagle Ford.

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.
• FracFocus.org

 

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Edited March 5, 2019 by shaleprofile