Rates Slowdown in Permian Basin

Laxman Pai
Monday, September 2, 2019

Though the Permian Basin still dominates US land drilling, the pace of growth in this region has slowed significantly.

Older tight oil wells decline by 20% per year without material intervention, according to Rystad Energy.

Contrary to common belief, the Permian Basin systematically offers the lowest oil decline rates, along with the Bakken Shale.

In turn, the Eagle Ford and DJ basins exhibit steeper decline rates throughout the first eight years of production across most vintages.

Rystad Energy has examined all horizontal oil-producing wells in the Bakken, Eagle Ford, Permian and DJ Basins, turned-in-line between 2011 and 2017 with at least 24 months of reported production.

The resulting sample includes 146,158 annualized production data points from 46,188 wells.

Categories: Shale Oil & Gas Oil Gas Shale

Related Stories

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

CNOOC Finds Oil and Gas in South China Sea

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Santos and QatarEnergy Agree Mid-Term LNG Supply

Santos and QatarEnergy Agree Mid-Term LNG Supply

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Woodside Agrees Long-Term LNG Supply with Petronas Unit

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

MODEC and Terra Drone Renew FPSO Drone Inspection Partnership

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

Current News

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

KBR-SOCAR Joint Venture Secures Work for BP in Azerbaijan

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

EnQuest Acquires Harbour Energy’s Vietnamese Assets

Woodside Finds South Korean Partners to Advance LNG Value Chain

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com