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Visualizing Permian Oil & Gas Production (Through March 2022)

Enno Peters's picture
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Background in AI, worked on developing Supply Chain Planning & Optimization solutions for Quintiq, setting up its business in China. Focus on company direction and the technical development...

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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 the blog to explore the full interactive dashboard

This interactive presentation contains the latest oil & gas production data from all 35,829 horizontal wells in the Permian (Texas & New Mexico) that started producing from 2007/2008 onward, through March.

Total Production

Permian tight oil production set a new output record in March, at 4.5 million b/d (after upcoming revisions, horizontal wells only). Slightly more horizontal wells were completed in the first quarter of 2022 compared with last year (1,157 vs 1,008).

Drilling Activity

The horizontal rig count in the Permian has risen to 327 as of last week (according to Baker Hughes), with 97 of these located in New Mexico:

Weekly rig activity (right hand chart) in the Permian Basin, by state, and WTI prices (black curve, right hand side).
Well productivity

In the “Well quality” tab, the production profiles for all the horizontal wells in the Permian Basin can be found. The following overview shows how well productivity (normalized for lateral length) has changed in the Permian over time:

Well productivity (cum. oil recovered in the first 12 months, per 1k feet of lateral length, and completion designs in the Permian Basin. Horizontal oil wells since 2012 only.

The top chart plots the average cumulative oil recovered in the first year, for every 1k feet of lateral length, by state. As you can see, this metric greatly increased in the years leading up to 2017, but it has slightly deteriorated afterward. The thickness of the curves is an indication of the relative well count.

Top operators

In the final tab (“Top operators”) the production and well positions are displayed for the 15 largest producers in the Permian. Several operators were able to set new output records in March.

Finally

Next week, we will have another post.

Production and completion data are 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.

Sources

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 production data.

  • OCD in New Mexico. Individual well production data is provided.

  • FracFocus.org

Visit our blog to read the full post and use the interactive dashboards to gain more insight: https://bit.ly/3OfSA8S

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