EIA: US Shale Output to Dip for Eighth Consecutive Month

[thackney]

EIA: US Shale Output to Dip for Eighth Consecutive Month
http://www.rigzone.com/news/oil_gas/a/144533/EIA_US_Shale_Output_to_Dip_for_Eighth_Consecutive_Month

U.S. shale oil output is expected to fall in June for the eighth consecutive month, according to a U.S. government forecast on Monday, as the squeeze from a two-year rout in crude prices worsens.

Total output is expected to fall by nearly 113,000 bpd to 4.85 million bpd, according to the U.S. Energy Information Administration's (EIA) drilling productivity report released on Monday.

Bakken production from North Dakota is forecast to fall 27,000 bpd, while production from the Eagle Ford formation is expected to drop 58,000 bpd.

Production from the Permian Basin in West Texas is expected to drop 10,000 bpd, according to the data, representing its second consecutive monthly decline.

[Edited by Mod1 - cleaned up your title ]

[IsailedawayfromFR]

EIA: US Shale Output to Dip for Eighth Consecutive Monthhttp://www.rigzone.com/news/oil_gas/a/144533/EIA_US_Shale_Output_to_Dip_for_Eighth_Consecutive_Month

[Edited by Mod1 - cleaned up your title ]

Pretty small declines of production when one considers the huge amount of drilling rigs that have stopped drilling.'

Shows how well the unconventionals hold up following its initial large declines.

Think how much more production growth we could experience if a lot of more new wells were drilled.

[thackney]

I wish I could find a decent source for the DUCs.  Hard to know if the production support while drilling was reduced was mostly due to working down the backlog of completing wells already drilled.

[IsailedawayfromFR]

I wish I could find a decent source for the DUCs.  Hard to know if the production support while drilling was reduced was mostly due to working down the backlog of completing wells already drilled.

Hmm - I haven't seen anything comprehensive, just some articles from time to time.  Like some of the for-profit companies like IHS have assimilated; otherwise, suspect a company like BJ keeps those things alert to them as that is their immediate future to stay in business.  Only other way is peruse public databases in key states of ND, Texas and Colorado/Wyoming.

I did read recently the latest issue of the Journal of Petroleum Technology(which I cannot reproduce) and it was stated that the last land rig count on March 24, 2016 of 464 is the lowest rig count since Abraham Lincoln was President.

That is quite a feat there.

[thackney]

I did read recently the latest issue of the Journal of Petroleum Technology(which I cannot reproduce) and it was stated that the last land rig count on March 24, 2016 of 464 is the lowest rig count since Abraham Lincoln was President.

Now down to 384.

BHI North America Rotary Rig Count (Jan 2000 - Current)
http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NjMzNTkxfENoaWxkSUQ9MzM4NTcxfFR5cGU9MQ==&t=1

[thackney]

464 is the lowest rig count since Abraham Lincoln was President.

In 1999, the land rig count was below 460 for 19 weeks in a row.  (I had to go look)

http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NTI4OTY4fENoaWxkSUQ9Mjk4NDg1fFR5cGU9MQ==&t=1

[thackney]

Hmm - I haven't seen anything comprehensive, just some articles from time to time.  Like some of the for-profit companies like IHS have assimilated; otherwise, suspect a company like BJ keeps those things alert to them as that is their immediate future to stay in business....

http://faster.drillinginfo.com/di-rig-analytics-content?utm_campaign=2016%20Case%20Studies&utm_content=Pennwell&utm_medium=Paid%20Email&utm_source=email