Summary (look at these initial production numbers -- wow!):
- ECA has 9 horizontals producing over 300 MBO since January of 2016, and a large number that model over 300 MBO within the first year of well life
- ECA has had several recent locations at or well above the high end of its average, proving well design can continue to improve EURs
- a comparison of 2015 wells with those completed in 2016 or after shows an increase in oil production of 54 MBO in the first 16 months of well life
The biggest improvements have been seen in Texas. The Permian and Eagle Ford have seen record wells, and production numbers well above the high end locations just a year or two ago.
The issue seems to be how high the bar can be set. Operators are now focused on stimulating each foot in the best manner, and this has helped to keep US production high in the face of lower oil prices. Everyone continues to wonder if shale can keep oil prices lower for longer, or if OPEC can control prices.
Recent wells by Encana show a massive improvement. This is the case for many US operators, and seems to be industry wide.
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Cake
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