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Visualizing US Oil & Gas Production (Through March 2021) energycentral.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from energycentral.com Daily Mail and Mail on Sunday newspapers.
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Total production
US tight oil production fell by 1 million b/d to 6 million b/d in February, the lowest level in 3 years, as cold winter weather affected production in several states. This was just a blip, and based on preliminary data we expect production to have fully recovered in March.
Supply Projection
With the horizontal rig count now having recovered to well over 400 as of last week (according to Baker Hughes), current output can be almost sustained, as is visualized in our Supply Projection dashboard:
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Total production
Oil production in North Dakota from horizontal wells grew by 2% m-o-m, to 1.07 million bo/d in March, after a 6% drop the month before, when several states were hit by harsh winter weather. Natural gas production was with 2.9 Bcf/d not far from the peak exactly one year earlier, at 3.1 Bcf/d.
Supply projection
Despite the March uptick, the outlook is not good for tight oil production in the state, with only 14 rigs running (source: Baker Hughes). This can be best viewed in our Supply Projection dashboard:
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I am excited to announce that we just released an add-on to our data subscription. Users can now also access all well permits, directional survey data (10 million+ records!) and 20-year production forecasts on well level. More info, including a description and a free sample can be found here: ShaleProfile Data plan.
Total production
US tight oil production fell by less than 1% in January m-o-m, to 6.9 million b/d (after upcoming revisions, hz. wells only). Tight gas output continued its upward trend since last May, although it is still below the March 2020 high (toggle Product to gas to see this).