Permian tight oil production set a new record in October, at 4.3 million b/d.
In this post we look at which counties are responsible for most of this output, which ones for recent production growth, as well as how well results have changed within them
This article contains still images from the interactive dashboards available in the original blog post. To follow the instructions in this article, please use the interactive dashboards. Furthermore, they allow you to uncover other insights as well.
Visit ShaleProfile blog to explore the full interactive dashboard
This interactive presentation contains the latest oil & gas production data from all 33,545 horizontal wells in the Permian (Texas & New Mexico) that started producing from 2008/2009 onward, through October.
Permian tight oil production set a new output record in October, at 4.3 million b/d (after upcoming revisions, horizontal wells only), just above the previous record from March 2020. Natural gas production is also edging higher, and came in at 17 Bcf/d in October.
The horizontal rig count in the basin has increased to 275 as of last week (according to Baker Hughes), with over 1/3rd of the rigs now active in New Mexico:
Weekly rig activity (left hand side) in the Permian Basin, by state, and WTI (right hand side).
Eight counties in the Permian Basin are together good for 80% of total production. Here you can view them, and see how their production has changed through October:
Total oil production in the top-8 counties in the Permian Basin.
Only 3 of these counties are responsible for almost all recent growth in production: Lea, Martin & Eddy.
The following overview presents how well results has changed over time in these 3 counties (Lea, Martin, Eddy):
Well productivity and completion designs in Lea, Eddy and Martin. Horizontal oil wells since 2015 only.
The top chart shows how well productivity, based on the average cumulative oil recovered in the first 6 months, has changed over time in these 3 counties. Lea County scores the best recent results, with 154 thousand barrels of oil produced in the first 6 months, on average, despite having the shortest laterals and the lowest proppant loadings (see bottom charts).
In the final tab (“Top operators”) the production and well positions are displayed for the 15 largest producers in the Permian. Pioneer Natural Resources is with 532 thousand b/d of operated production well above the number 2, EOG (324 thousand b/d).
Next week, we will have a new post on the Eagle Ford.
Production and completion data are subject to revisions.
Note that a significant portion of production in the Permian comes from vertical wells and/or wells that started production before 2008, which are excluded from these presentations.
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