Monday, April 13, 2020

EIA Dashboards, April 2020 -- The Bakken Still Has Bragging Rights

The EIA dashboards for April, 2020, have just been posted. The links are here:
The Bakken still has bragging rights.
  • the Permian: up 13 bbls, from 677 to 690; up 1.92%
  • the Eagle Ford: up 24 bbls, from 1,231to 1,255; up 1.95%
  • the Bakken: up 25 bbls, rom 1,249 to 1,274; up 2.0%;
Eagle Ford:


Permian:


Bakken:


Over the next few months, we should expect to see:
  • oil production from legacy wells to decline (perhaps significantly);
  • oil production from new wells to increase (perhaps significantly)
At 690 bbls / day / per rig of crude oil, the Permian is almost half that of the Bakken. The Bakken is also producing [(2000-1400/1400)] more than 42% more natural gas per rig (new wells) than the Permian.

Look at the jump in crude oil production in new wells per rig during the "trillion-dollar-debacle," 2014 - 2016, when OPEC tried to "break" US shale. It will be interesting if we see a similar jump this year.

Looking forward to May, 2020:



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