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Wednesday, October 13, 2021

Director's Cut Posted -- August, 2021, Data

Usual disclaimer: this is done for my benefit. I do it quickly. There will be content and typographical errors. I generally do not go back to correct errors. If this is important to you, go to the source.

Link here.

Comments: it should be noted that in --

  • June, 2021, there were 2,519 wells off line for operational reasons;
  • July, 2021, there were 2,603 wells off line for operational reasons
  • August, 2021 (most recent month for which there is preliminary data) 2,193 wells were off line for operational reasons
  • change, most recent m/m: +410 wells
  • delta: +15.8%
  • analysis: YouTube from a month ago (July, 2021)
  • no typo: number of DUCs, July/August, no change at 521; this number may be revised;
  • number of producing wells;
  • August, 2021: 16,953 (preliminary)
  • July, 2021: 16,890
  • change m/m = 0.37%
  • so, number of producing wells barely changes (up 0.4%); number of DUCs remain unchanged; but a net 410 wells were brought back on line and/or completed.
Crude oil production:
  • August, 2021: 1,107,216 bopd (preliminary)
  • July, 2021: 1,076,594 bopd (revised)
  • June, 2021: 1,133,498 bopd
  • delta, bopd: +30,622 bopd
  • delta, percent: +2.8%
  • revenue forecast: 1.2 million --> 1.1 million --> 1.0 million bopd

Crude price:

  • today: $64.80
  • August: $60.94
  • July, 2021: $64.80
  • June, 2021: $63.62
  • revenue forecast: $50

Natural gas production:

  • August, 2021: 2,960,457 mcf/day; +2.85; 90% capture rate (preliminary)
  • July, 2021: 2,879,408 mcf/day; capture, 90% (revised)
  • June, 2021: 2,987,829 mcf/day; capture, 92%

Rig count:

  • today: 30 (includes one SWD rig)
  • August, 2021: 28(included two SWD rigs))
  • July, 2021: 23 (ditto)
  • June, 2021: 20 (maybe one SWD rig)

Wells:

  • September, 2021
    • permitted: 69
    • completed: 34 (preliminary)
    • inactive: --
    • DUCS: --
  • August, 2021:
    • permitted: 79 (final)
    • completed: 47 (revised)
    • inactive:1,672
    • DUCs: 521
    • producing: 16,953 (preliminary)
  • July, 2021:
    • permitted: 40
    • completed: 53 (final)
    • inactive: 2,082
    • DUCs: 521
    • producing: 16,890
  • June, 2021:
    • permitted: 75
    • completed: 41 (final)
    • inactive: 1,839
    • DUCs: 680
    • producing: 16,844 (all-time high)
DUCs and inactive wells are tracked here.

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