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.
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.
Reality sucks: the Bakken revolution (fracking) -- the leading technological innovation that drove reduced CO2 emissions over the last decade, not renewables
Montana Bakken: began in 2000
North Dakota Bakken: began in 2007
Reality sucks:
in Europe right now, it costs 2 - 3x more to charge an EV than it is to power an ICE
well, you know what I mean
There you go, Pocohontas and Bernie:
Brandon won't extend student loan relief; student load payments to restart February 1, 2022 -- source, Forbes -- plenty of jobs available to help pay off student loans
2022 is an election year, is it not?
Asking for a friend: is GasBuddyGuy being sarcastic, or living in a parallel universe? He tweets today:
the national average is now $3.323 / gallon and falling -- should be under $3.30 / gallon in the next 72 hours
I'm tired of the whining: I'm talking about all the folks going nuts over Omicron
Alec Baldwin has killed more people that Omicron
California: governor reinstates statewide mask mandate (remember: the state had an opportunity to recall him -- he's now bullet-proof)
Bitcoin: from "Walter Bloomberg": "Boe's Bailey says crypto investors may lose all their investment. Link here. Some social comments:
it's always surprising when people who benefit most from the legacy banking system warn of the risks involved with bitcoin. Shocking even.
it's almost like, it's a pyramid scheme?
I had not idea crypto was volatile
meanwhile in Turkey
instead, let the government take all your money through inflation
Net-zero:
if the entire EU went net-zero today and stayed net-zero for the rest of the century, the impact would be a rise in global temperature by 0.14°C -- Bjorn Lomborg
US dry natural gas production: to reach 97.5 billion cubic feet per day by December, 2022, one year from now
would be the highest US monthly production on record
Dividends: I've lost the bubble on this. I can't remember if I've already posted this. PFE, TRN, and UNP have announced an increase in their dividends. Link here.
PFE: increased to 40 cents from previous 39 cents. Record date, 1/28/22; pay date 3/4/22.
PFE up 5.16%; up $2.73; trading at $55.52
TRN: increased to 23 cents from previous 21 cents. Record date 1/14/22; pay date1/31/22.
TRN down slightly today
UNP: increased to $1.18 from previous $1.07; this is earlier than expected; see below;
prepandemic, 88 cents/share; now $1.18/share --> 34% increase over ten quarters (?)
record date, 12/17/21; pay date 12/20/21 -- wow -- next Monday.
if UNP is a proxy for BNI, Warren Buffett must be happy today
Staggering: I simply find this number staggering. Link sent by reader, thank you.
corporate relocations have delivered more than $235 billion in market valuation to north Texas
this is corporate relocations; doesn't even begin to include all the new non-relocation activities
these are corporate relocations, not necessarily corporate headquarters locations
writer noted that DFW already had such big players like Exxon and Texas Instuments
