Average Production Per US Oil Rig Has Soared 81% Since 2019 -- December 13, 2021

A couple of points before we get started:

• although the headline, perhaps implies that it's all about the drilling or the rig, when in fact, it's really about the completion strategies and the effectiveness of the frack spreads -- the guys and gals doing the fracking;
• it's easy to skip over the "81%" figure but 81% is closer to 100% (or doubling of production) than 50%. 
  

Think about that, one can almost say that the average production per US oil rig has almost doubled over the past two years.

Parsing that sentence:

• per rig
• almost doubled
• in the past two years.

Staggering. 

Another point: by name, only two shale plays are mentioned in this article. 

I've been seeing this day in and day out when I update initial production data for wells drilled in 2020, maybe 2019. Initial production, the first ninety days, is the important period when comparing shale wells; after that, the operator is managing his/her wells and production is related less to technology and strategies and more to the operator "managing" the well's production.

One last point: I am inappropriately exuberant about the Bakken.

Talk about a huge coincidence. It's almost as if someone is reading the blog. LOL.

Link here for a recent blog post with comments. 

The December, 2021, dashboards have been posted:

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

Now this, link to Julianne Geiger: average production per US oil rig has soared 81% since 2019. 

New-well oil production per rig has gained some serious ground over the last three years, increasing nearly 85% since the start of 2019, EIA data compiled by Oilprice shows.

According to the EIA’s most recent Drilling Productivity Report published on Monday, new-well oil production per rig rose to 1,142 barrels per day in December, and is expected to stay close to that figure in January, at 1,140.

While the monthly gains have been modest since the beginning of 2019—at an average gain of just 14 barrels per rig per day, it has catapulted the average production per rig per day to 1,140. This is up from 628 at the beginning of 2019—for a gain of 81%.

And:

Oil production in the most prolific shale play in the United States—the Permian—is expected to increase 71,000 bpd in January to 5.031 million bpd—up from 4.960 million bpd in December.

The second most prolific basin, the Bakken, is expected to increase 8,000 bpd to reach 1.154 million bpd in January. Both the Bakken and the Permian are expected to decrease in the new-well production per rig for the month of January, with the Bakken expected to fall by 42 barrels per rig per day, and the Permian by 4 barrels per rig per day.

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