Drilling Productivity Trends in the U.S.

The E.I.A. printed its month-to-month drilling productiveness report on October 17. The hyperlink to the total report is right herewith all the charts under from the report. The charts under present the estimated knowledge for November 2022. I’ve pulled out a few of the charts from the report which can be price commenting on:

• New nicely manufacturing per rig is down YoY for each oil and pure gasoline, suggesting that every incremental new rig is just not producing oil or gasoline as effectively because it was at this level final yr. That is constant throughout all the main performs within the U.S.

• Oil and pure gasoline manufacturing within the U.S. is up YoY throughout the 7 main oil and gasoline performs, regardless of the lower in new nicely manufacturing per rig. That is the results of a rise in rigs from the identical interval final yr.

• The Permian continues to be the strongest of the main U.S. oil performs with manufacturing persevering with to set document highs. Pure gasoline manufacturing within the space can also be at all-time highs.

• Manufacturing estimates month-over-month counsel a rise of 104 MB/d in November, and a rise of 0.55 BCF/d of gasoline.

• Drilled however uncompleted wells (DUCs) have been down by 10 to 4,333 in September.
• The Appalachia area (Marcellus) and the Haynesville area proceed to provide document ranges of pure gasoline. Curiously, the rig rely within the Appalachia area continues to be under ranges seen just a few years in the past (and nicely down from 10 years in the past), whereas the rig rely within the Haynesville has just lately hit 10-year highs.