Worldwide Drilling Productivity Report » Peak Oil Barrel. The EIA publishes what they call a Drilling Productivity Report. But over the long haul, I find that the exact opposite is true.
In every place in the world, each rig produces a little less oil every year. Baker Hughes publishes monthly their International Rig Count where we can find the world rig count back to 1. However I only looked at the last 1. The last “Rig Count” data point on all charts below is December 2. Also, very important, the rig count includes rigs drilling for gas as well as oil since Baker Hughes does not break down international rigs down to either gas or oil. They just give us the total rig count. The last price collapse we had, in late 2. Distinguished Lecturers' Slides/Graphics. Review our data policy for information about these graphics and how they may be used. Crime Scene Training A blog to teach the fundamentals of Crime Scene Investigation, and to encourage input, feedback and involvement from site visitors. September 2. 00. 8 and May 2. US alone. That was the number of rigs dropped by the us between September 2. June 2. 00. 9. Looking at the first graph up top, World Rig Count, you will see a strange saw tooth that bottoms out every April or May. That is entirely due to the Canadian Rig count. The Canadian Rig Count tops out every February and bottoms out every April and May. The only year in the last 1. February 2. 00. 9, (arrow). I hope some kind Canadian will clue us in on why this happens. At any rate, to my knowledge, this is the only country in the world where has this strange oscillation happens. The Middle East Rig Count has gone from 1. About half of this increase has come from Saudi Arabia. Here I have overlapped the International Rig Count with International Crude + Condensate production. International, in this case, is everywhere except the US and Canada. The point here is that an almost constant increase in the rig count since 2. It is the perfect example of the Red Queen syndrome, it takes more and more wells to stay in the same place. An overlay of production with rig count however does not give a true comparison between rig count and production. That is because the scales are not equal and therefore no true comparison can be gleaned from such a chart. But they can be compared with simple math. That is you simply divide the average daily production for that year by the average number of rigs for that year. This is production per rig, not production per well. Basically this chart compares what a rig did for you in 2. Look at as a worldwide Drilling Productivity Report. The EIA says rigs working in US Tight Oil fields are getting more and more efficient. This is due to longer laterals, more fracking stages , more wells per pad and so on. However rigs, overall, are getting less and less efficient. This is due to the fact that the vast majority of rigs worldwide are simply engaged in infill drilling of old wells. So it is only natural that each well will yield a little less oil than the last one. Below is the data that produced the chart above. The data is barrels per day per rig. The USA produces 4,5. Middle Ease produces 5. Well the reason is we in the USA just don’t get nearly as much oil per well as they do in the Middle east. In Saudi, for instance, they drill these long horizontal wells in their supergiant fields, many of the wells MRC, . Then around the periphery of the field, every few hundred feet, they put a water injection well. And they pump millions of barrels of sea water, every day, into the reservoir. The water sweeps the oil to the well lateral and they produce thousands of barrels per day per well. Recent data on Saudi Arabia is rather hard to come by but in 2. That puts Saudi average production at somewhere between 2,8. At about the same period of time, 2. US had about 5. 10,0. Today about 4. 00,0. Shale Boom May Come To Abrupt End. Rig productivity has increased but average well productivity has decreased. Every rig used in pad drilling has approximately three times the impact on the daily production rate as a rig did before pad drilling. At the same time, average well productivity has decreased by about one- third. This means that production rates will fall at a much higher rate today than during previous periods of falling rig counts. Well productivity is falling. It has already fell by one third. That is the same thing I have been telling you folks for months now. Note: My posts are irregular, usually every three or four days but at different times of the day. Whenever I put up a new post I send an email. If you would like to be put on that list, or removed from it, post me at Darwinian. One at Gmail. com. Strategy and Tactics of Pricing, The. For a long time I used to go to bed early. Sometimes, when I had put out my candle, my eyes would close so quickly that I had not even time to say \. Sometimes, when I had put out my candle, my eyes would close so quickly that I had not even time to say \.
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