Posted on 02/27/2015 5:35:17 AM PST by thackney
I have been supplied an Excel spreadsheet of all North Dakota wells back to 2006, thanks to Enno Peters and Dennis Coyne. I only used the data back to 2007 however. This is a wealth of information if we want to know how many wells came on line in a given month, we simply count them. We are given the monthly production data for each month. And since we have the monthly production data we can very easily figure the decline rate of each well, or any group of wells for any month or year.
A note on the data. The first month’s data was almost always for a partial month. Sometimes the well came on line near the first of the month and sometimes near the end of the month. To get around this problem I have started with the second month, which is the first full month, and used that month as the first month of all my data. All data and charts below include all North Dakota wells, not just the Bakken.
Production per well has gradually increased each year. 2014 was the highest first month production but also the highest decline rate. Note that on the first month 2014 production is 29 barrels per day above 2013 1st month and 131 barrels per day above 2008 1st month. But the 2014 10th month was 7 bpd below the 2013 10th month. And by the 2013 only 7 barrels per day separated the 2008 data and the 2013 data.
Bottom line is, though the new wells produce more, they decline a lot faster.
Barrels per day per well, for the entire year, discarding the first partial month and measuring the 2nd through 13th month, averaged 230 BPD for 2013 and 241 BPD for 2014....
(Excerpt) Read more at oilprice.com ...
ND Oil ping
The moral of the story is that fracking is buying us time, and maybe a lot of time, but eventually we will still have to diversify away from oil. I’m all for fracking, but the biofuels/electric/fuel cell argument isn’t going away.
As long as they are economically implemented and not by using tax dollars, I am an “all of the above” guy for energy.
Oil is organic produced in the bowels of the planet. We have hundreds of years of supply.
Correct.
The more efficiently the oil is extracted, the higher the IP, but the faster the decline.
I know we've been drilling a well in about half the time an equivalent well took in say, 2006, and the time from wellhead to wellhead on a pad is under three days, as opposed to moving a rig from location to location (10 days to two weeks).
Older (and not much older) rigs are being laid down in favor of rigs that can drill and move faster, especially those which can walk from wellhead to wellhead on a pad. This gets more wells drilled in less time with fewer rigs.
I’ve read recently in the downturn, we should see even greater efficiencies. This due to more of the “best” rigs applied at a higher ratio to the “best” areas of the plays.
As operators become more selective in when and where they drill, the pressure for rig demand and location goes down, and combination will be more new barrels produced per month, per rig.
I would agree. I just don’t buy the notion that “fossil fuels” are really made up of squished up old trees and dinosaurs. Given the volume of oil pumped out of the ground... just how many dinosaurs would there have to have been????
In addition, consider the massive oil finds in deep ocean locales. “Tar balls” continue to wash-up on beaches from this oil seeping up from the deepest parts of the ocean.
I doubt if Dinos and Trees were once roaming ocean depths of 30,000 feet or more.
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