https://www.eia.gov/petroleum/drilling/pdf/January_2021_Supplement.pdf
See this post: http://themilliondollarway.blogspot.com/2021/01/rigs-ducs-and-managing-assets-bakken.html.
The same reader also made a comment at the most recent site regarding the Art Berman article addressing the same subject:
So today's report indicated DUCs were down by 145 to 7,298....902 of those were in Appalachia or the Haynesville, so most of the rest were oil wells...
But here's the kicker: there were 518 completions in December; 118 gas and 400 oil...so that article's benchmark to hold oil production steady is already being met...
So, "Op-Ed Or Fact" is already a moot question...
EIA dashboards:
- EIA pdf, Bakken: https://www.eia.gov/petroleum/drilling/pdf/bakken.pdf
- EIA, pdf, Permian: https://www.eia.gov/petroleum/drilling/pdf/permian.pdf
- EIA, pdf, Eagle Ford: https://www.eia.gov/petroleum/drilling/pdf/eagleford.pdf
For the December, 2020, "dashboards," see this post.
This was the December, 2020, dashboard for the Bakken:
Rigs, DUCs, and Managing Assets
This is the most current "dashboard" for the Bakken. I will post the Permian and Eagle Ford dashboards later and at a stand-alone post.
I'm traveling; and, limited resources (battery and time).
The EIA monthly drilling productivity report for the Bakken:
It should be noted that February is the worst month for drilling and fracking in the Bakken. Actually, it's the worst month for doing anything in the Bakken, although First Lutheran Church hosts its annual Lutefisk dinner every February. The church will probably do it differently this year but my hunch is that lutefisk pretty much neutralizes "cold" viruses.
Hi. You can't really get much out of the DUC reports for recent months. They are even worse than the recent month DPR reports. (In terms of being projections, not data). They have to be projections because Frac Focus data is lagged by several months. Nor does EIA use more sophisticated ideas like satellite views (as the consultancies do).
ReplyDeleteAll the recent DUC reports are is trend extrapolation. EIA explains this in the method reports on their site. Many articles have been written about it also.
DUCs are just one part of the overall story.
DeleteThe NDIC production data is very, very good. Their preliminary numbers for production are always on the low side, of course, but not by much. The DUCs that are being reported completed in the Bakken are good to very good to incredibly good. I'm not seeing many "poor" DUCs being reported. And in the big scheme of things, not many DUCs in the Bakken are being reported in the first place. And only 12 active rigs.
Pretty astonishing all in all.
The bigger story, of course, going forward will be how the new administration feels about domestic oil and gas industry. That's a much, much bigger story than anything else, so there will always be something to be worried about. But for me, DUCs, are an incredible big piece of the story when it comes to unconventional oil.
Something else unconventional oil did that surprised folks was .... but I won't go into it here. Not enough space, and it, too, will result in push back from folks like Art Berman. It's not worth the aggravation.
hmm...this story was supposed to have an EIA link: "base production in North Dakota has fully recovered after a significant reduction"
ReplyDeletelet me go check..
yep, it's a separate report:
https://www.eia.gov/petroleum/drilling/pdf/January_2021_Supplement.pdf
sorry for not making that clear....
I thought I was missing a link ... LOL. I planned on getting back to it later, but you beat me to it. Thank you.
Deletehttp://themilliondollarway.blogspot.com/2021/01/rigs-ducs-and-managing-assets-bakken.html.
A very, very interesting short paper by the EIA. Thank you. The Bakken never ceases to amaze me.