Tag: Drilling Productivity Report

U.S. oil drilling increasingly focused in Permian Basin

U.S. oil drilling increasingly focused in Permian Basin

EIA’s most recent forecasts show production will increase in Permian, 2Q of 2017 US drilling activity is increasingly concentrated in the Permian Basin, which spans parts of western Texas and southeastern New Mexico, according to the US Energy Information Administration. The Permian now holds nearly as many active oil rigs as the rest of the United […]

By November 15, 2016 0 Comments Read More →
Over 4,000 drilled but uncompleted oil wells in US shale basins – EIA

Over 4,000 drilled but uncompleted oil wells in US shale basins – EIA

Drilling and completion declined since 2014, but completions experienced deeper decline than drilling in oil-dominant regions Starting this month, EIA’s Drilling Productivity Report (DPR) includes monthly estimates of the number of drilled but uncompleted wells (DUCs) in the seven DPR regions, according to the US Energy Information Administration. Estimates will go through the prior month; for […]

By September 14, 2016 0 Comments Read More →
Increased drilling may slow pace of crude oil production declines

Increased drilling may slow pace of crude oil production declines

 Production forecast based on WTI $47/b in 3rd quarter, $50/b average 2nd quarter 2017 Higher and more stable crude oil prices are contributing to increased drilling in the US, which may slow the pace of production declines, according to the US Energy Information Administration. Benchmark WTI crude oil prices averaged $46.59 per barrel over the […]

EIA report shows US oil/gas operating costs dropped 30% since 2012

EIA report shows US oil/gas operating costs dropped 30% since 2012

Adoption of best practices, better well designs have reduced drilling, completion times, decreased well costs, increased well performance A new study from the US Energy Information Administration shows that operating costs for American oil and gas producers ramped up from 2006 to 2012, then dropped as much as 30 per cent in the years since. In […]

Permian Basin News: Initial production rates in tight oil formations continue to rise

Permian Basin News: Initial production rates in tight oil formations continue to rise

Tight oil production in 3 (Eagle Ford, Bakken, and Niobrara) of 4 most productive regions  began to decline during 2015 Tight oil production in the United States increased from 2007 through April 2015, based on estimates in EIA’s Drilling Productivity Report (DPR), and accounted for more than half of total U.S. oil production in 2015. Tight oil growth […]

By February 11, 2016 0 Comments Read More →