By Ron Patterson – Tue, 11 August 2015
There is new data out today. The EIA published their International Petroleum Statistics yesterday. The EIA also published their Drilling Productivity Reportwhich gave their expected shale oil and gas production through September. Then this morning OPEC published their Monthly Oil Marketing Report with OPEC crude only production numbers through July.
First the Drilling Productivity Report. Of course most of the Drilling Productivity Report is projection, not history. And that projection goes through September 2015.
The EIA has the Bakken peaking in December and declining 107 thousand barrels per day since that point. A secondary peak was reached in April and declining steadily since then.
The EIA has Eagle Ford peaking in March and declining 226 thousand barrels per day since that point.
The EIA has Niobrara peaking in March, almost flat for one month then declining sharply after that for a total decline of 75 thousand barrels per day after that.