The E.I.A. published its monthly drilling productivity report on October 17. The link to the full report is here, with all of the charts below from the report. The charts below show the estimated data for November 2022. I have pulled out some of the charts from the report that are worth commenting on:
- New well production per rig is down YoY for both oil and natural gas, suggesting that each incremental new rig is not producing oil or gas as efficiently as it was at this point last year. This is consistent across all of the major plays in the U.S.
- Oil and natural gas production in the U.S. is up YoY across the 7 major oil and gas plays, despite the decrease in new well production per rig. This is the result of an increase in rigs from the same period last year.
- The Permian continues to be the strongest of the major U.S. oil plays with production continuing to set record highs. Natural gas production in the area is also at all-time highs.
- Production estimates month-over-month suggest an increase of 104 MB/d in November, and an increase of 0.55 BCF/d of gas.
- Drilled but uncompleted wells (DUCs) were down by 10 to 4,333 in September.
- The Appalachia region (Marcellus) and the Haynesville region continue to produce record levels of natural gas. Interestingly, the rig count in the Appalachia region is still below levels seen a few years ago (and well down from 10 years ago), while the rig count in the Haynesville has recently hit 10-year highs.