Monday, April 12, 2021

EIA April, 2021, Dashboards Have Posted

The April, 2021, EIA dashboards have been posted:

The graphics:

The Bakken and the Permian show almost no change month-over-month. Interestingly enough, the Eagle Ford showed the "biggest" change, albeit trivial in the big scheme of things. It surprised me because so many writers / analysts have suggested the Eagle Ford is the fastest declining oil field in the country. 

Did It Ever Get Any Better Than This?


  1. Rigs are adding into the EF, given TI near 60. Bakken is held back by serious concerns about DAPL. (Keystone finally getting the kibosh didn't help either.)

    Of course you can get on a Buffet train, but it costs money. Lowers the effective price for the producer. And when you talk growth, it's not the average price that matters (including legacy pipe fixed contracts) but the marginal (last barrel shipped) price. Since you are adding new barrels...and they will get the marginal price.

    1. This is simply fascinating. Analysts predictions and then data comes out a few months later. Another interesting note: today's Reuters story suggesting Permian pipelines running "dry" later this summer. Speaks volumes what is going on.

  2. There's already a lot of spare capacity on the Permian pipes. This will get worse this summer when more pipes come on (as production is flat). It's just the other side of the coin to not having enough capacity. There's risk with building pipelines.

    I think they could fill eventually if Biden would get out of NM's way.

    1. You are so correct; again, the oil companies never imagined a US president shutting down oil drilling on BLM land and non-BLM federal land. Pretty amazing.