Friday, March 30, 2018

Hands Down, The Bakken Beats All Other Oily Plays -- Production / Rig -- But On BOE/Rig? The Eagle Ford


April 3, 2018: see this post for an update on this subject.  

Original Post 

From a May 17, 2014, post, production per rig:
It's been a long time since I've looked at this metric.

A huge thanks to a reader for a note that made me think of doing this.

So, in January, 2014, productivity per rig, based on the chart above:
  • the Bakken: around 500 bbls/rig
  • the Eagle Ford: about 475 bbls/rig
  • the Niobrara: about 350 bbls/rig
  • the Permian: not even 150 bbls/rig
So, how have things changed in four year? From the EIA (a dynamic link), the Bakken still leads all four major oily plays:
  • the Bakken: around 1,450 bbls/rig -- almost 3x greater than 4 years ago
  • the Eagle Ford: about 1,400 bbls/rig -- ditto, and very close to the Bakken (on a "boe" basis, the Eagle Ford would probably beat the Bakken -- but it would be close and might vary month-to-month)
  • the Niobrara: about 1,200 bbls/rig -- about 3.5x better than 4 years ago
  • the Permian: about 600 bbls/rig -- 4x better than 4 years ago -- but the Bakken is about 2.5x better than the Permian

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