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

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Woodside Agrees Long-Term LNG Supply with Petronas Unit

Wood JV Gets EPC Job for Shell off Brunei

CNOOC Starts Production at Offshore Field in South China Sea

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

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

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

Current News

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Petronas Expands Suriname Portfolio with Deepwater Block Acquisition

Japanese Oil and Gas Firm Enters Two Blocks off Malaysia

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