This is an older blog post, you will find one on more recent data here
Oil production has stayed at a level of around 1.3 million bo/d in the first 5 months of this year, after revisions. Although not all well completions are reported yet, so far the number is lower than last year (688 vs. 809 through May).
An important reason why the Eagle Ford has been struggling can be seen in the “Well quality” tab. Since 2017, well productivity has no longer improved. Normalized for lateral lengths, well results have even slightly deteriorated.
Declines are steep in this area. Of the 17.5 thousand horizontal oil wells that came online before last year, over 10 thousand are currently producing below 25 bo/d. Fewer than 1 thousand of those wells are still producing more than 100 bo/d. In our advanced analytics service, these findings can be analyzed in full detail.
The ‘Advanced Insights’ presentation is displayed below:
This “Ultimate recovery” overview reveals the relationship between production rates and cumulative production. Wells are grouped and averaged by the year in which production started.
Also here you can see that the almost 2 thousand horizontal wells that came online last year are closely tracking the performance of the wells that started the year before. The wells that began production in 2010 have now fallen to an average rate of about 10 bo/d. However, many of these wells are gas wells (switch ‘Product’ to gas to see that).
Today, Tuesday September 3rd, at noon (ET), we will present a new monthly briefing (~20 minutes) on all the major tight gas basins in the US, in our ShaleProfile channel on enelyst. Registering is free: enelyst registration page.
Early next week we will have a new post on all covered states in the US.
Production data is subject to revisions, especially for the last few months.
For this presentation, I used data gathered from the following sources:
- Texas RRC. Production data is provided on lease level. Individual well production data is estimated from a range of data sources, including regular well tests, and pending lease reports.
The presentations above have many interactive features:
- You can click through the blocks on the top to see the slides.
- Each slide has filters that can be set, e.g. to select individual or groups of operators. You can first click “all” to deselect all items. You have to click the “apply” button at the bottom to enforce the changes. After that, click anywhere on the presentation.
- Tooltips are shown by just hovering the mouse over parts of the presentation.
- You can move the map around, and zoom in/out.
- By clicking on the legend you can highlight the related data.
- Note that filters have to be set for each tab separately.
- The operator who currently owns the well is designated by “operator (current)”. The operator who operated a well in a past month is designated by “operator (actual)”. This distinction is useful when the ownership of a well changed over time.
- If you have any questions on how to use the interactivity, or how to analyze specific questions, please don’t hesitate to ask.