Visualizing Permian Oil & Gas Production (Through May 2021)
- Aug 19, 2021 8:46 am GMT
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
This interactive presentation contains the latest oil & gas production data from all 31,497 horizontal wells in the Permian (Texas & New Mexico) that started producing from 2008/2009 onward, through May 2021.
Tight oil production in the Permian was flat at 4.0 million bo/d in May for the 2nd consecutive month (after revisions, horizontal wells only). Natural gas production most likely set a fresh record at over 16 Bcf/d in May (toggle product to ‘gas’).
As of last week, 235 rigs were drilling horizontal wells in the Permian (according to Baker Hughes). Our Supply Projection dashboard shows what would happen if drilling activity would stay at this level (the interactive version allows you to set your own assumptions):
The bottom chart shows that, all else being equal, output in the basin could slowly start growing again at this level, but that it would still take a while before the previous record would be topped.
In the 3rd tab of the presentation above (“Well quality”), you can analyze how well productivity has improved in the Permian Basin in the last few years, on average.
After normalizing production data for the increase in lateral length, we find that well performance has slightly deteriorated since 2016:
During these years, lateral lengths increased from 7 thousand feet (2016) to 9 thousand feet (2020), on average.
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