Tuesday, February 25, 2020

Natural Gas Production Update -- The EIA Dashboards -- The Bakken Is Surging -- February 25, 2020

Managing their resources: maybe this is why we saw the number of active rigs in North Dakota plunge from 54 to 49 overnight. The plunge occurred prior to the coronavirus shock of February 24, 2020.

Re-posting, but this time, look at the increase in natural gas production, per day, per average rig, in the three super-duper shale oil fields in North America. Look at "gas" in the three fields.
EIA dashboards, March, 2020, vs February, 2020:

Look at the crude oil production/well in the various fields?
  • Change in production, month-over-month, from one average rig:
  • Bakken: an incredible jump of 31 bbls/day/rig; month-over-month; and that was top of an already-high monthly production --perhaps this is why CLR is "damn the torpedoes, full speed ahead"
  • Permian: in comparison, despite low figures to begin with, the Permian saw a change of only two (2) bbls/day/rig, month-over-month;
  • Eagle Ford: similar profile to the Bakken, but lagging slightly

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