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Tuesday, June 21, 2016

Breaking Down the 1st Quarter 2016 Ohio Utica Shale Production Data

The Ohio Department of Natural Resources has now released the production data from the Utica shale for the first quarter of 2016. As always, we are going to give you a look at how the numbers compare to past quarters, past years, and how they break down among the various drillers who are active in Ohio and the counties where they are drilling. We also have the top 10 oil and gas wells detailed below. The latest production figures give the clearest view yet of how the downturn in oil and natural gas prices has affected production, with oil production declining from the previous quarter for the first time since the Utica shale boom began.

First up, let's take a look at how the quarterly data compares from the 1st quarter of 2014 through the first quarter of 2016.  As a reminder, all oil figures are 42-gallon barrels, and all gas production is measured in MCF:


QUARTER# OF WELLS/# WITH DATAOILGASDAYSOIL/DAYOIL/WELLGAS/DAYGAS/WELL
2014-1 476/4181,950,97967,333,94528,019704,6672,403161,086
2014-2562/5042,467,28388,673,74137,922654,8952,338175,940
2014-3717/6743,013,667132,017,38650,858594,4712,596195,871
2014-4828/7793,558,836164,815,00862,527574,5682,636211,573
2015-1926/8774,432,304183,585,25569,745635,0192,632209,333
2015-21020/9785,594,633221,860,16980,724695,7042,748226,851
2015-31134/10875,709,858245,747,68684,283685,2422,916226,079
2015-41265/12306,249,116302,505,428102,378615,0812,955245,939
2016-11351/13035,485,854329,537,838110,699504,2102,977252,907

The prevailing trend continued with oil production, as the rates per day in production and per well continued to fall - this time to levels we haven't seen in a couple of years. Gas production continues to be on the rise, though, reaching new peaks both in total production and in rate of production.

Next we have a look at all of the production in the Utica shale since the start of 2011, broken down by year and then adding in the production year-to-date in 2016:


YEAROILGAS
201146,3262,561,524
2012635,87412,831,292
20133,677,734100,119,054
201410,990,765452,840,080
201521,985,911953,887,763
2016 YTD5,485,854329,537,838
TOTALS42,822,4641,851,777,551

Next up, here are the top 10 oil-producing wells from quarter four:


OPERATORCOUNTYWELL NAME/NO.OILOIL/DAY
ANTERO RESOURCES CORPORATIONNOBLEHALL UNIT 1H57160628
ASCENT RESOURCES UTICA LLCGUERNSEYEGGLESTON WLS GR 4H56955633
ASCENT RESOURCES UTICA LLCGUERNSEYEGGLESTON WLS GR 2H52057578
ANTERO RESOURCES CORPORATIONNOBLEHALL UNIT 2H48665535
CHESAPEAKE EXPLORATION LLCHARRISONWILLIAM DENOON 17-12-6 2H43267528
ASCENT RESOURCES UTICA LLCGUERNSEYRED HILL FARM MDS GR 1H42490467
ASCENT RESOURCES UTICA LLCGUERNSEYRED HILL FARM MDS GR 3H41963461
ASCENT RESOURCES UTICA LLCHARRISONRH HAMILTON N MRF HR 7H40881449
CHESAPEAKE EXPLORATION LLCHARRISONWILLIAM DENOON 17-12-6 4H40011465
CHESAPEAKE EXPLORATION LLCCARROLLSAUERS 8-14-6 210H38912428


This represents the most even division of top-producing oil wells across different counties we have seen in a while. Guernsey County had 3 of the top 10 wells in the fourth quarter of 2015, but is back to having 4 this time.

Next, here are the top 10 gas-producing wells from the fourth quarter of 2015:


OPERATORCOUNTYWELL NAME/NO.GASGAS/DAY
RICE DRILLING D LLCBELMONTMOHAWK WARRIOR 12H1,629,077 52,551
RICE DRILLING D LLCBELMONTMOHAWK WARRIOR 8H1,621,869 52,318
RICE DRILLING D LLCBELMONTMOHAWK WARRIOR 10H1,515,077 48,873
ASCENT RESOURCES UTICA LLCBELMONTSMITH A 1H-121,345,080 14,945
ASCENT RESOURCES UTICA LLCBELMONTEUREKA SMT BL 6H-A1,325,913 14,732
RICE DRILLING D LLCBELMONTKRAZY TRAIN 4H1,320,931 42,611
RICE DRILLING D LLCBELMONTKRAZY TRAIN 2H1,280,914 41,320
RICE DRILLING D LLCBELMONTSON-UVA DIGGER 1H1,270,300 40,977
ANTERO RESOURCES CORPMONROEDELONG UNIT 4H1,263,024 13,879
RICE DRILLING D LLCBELMONTSON-UVA DIGGER 3H1,238,906 39,965


As has been the pattern on these production reports, Rice Drilling and Belmont County dominate the top gas-producing wells.

Now take a look at the production by county in the fourth quarter, along with charts that will show the comparison in production rates between the 4th quarter of 2015 and the 1st quarter of 2016:


COUNTY# OF WELLS TOTAL# OF WELLS PRODUCINGOILGASDAYSOIL/WELLOIL/DAYGAS/WELLGAS/DAY
Belmont175155104,06599,235,38412,2766718640,2288,084
Carroll4294271,292,46656,741,24337,3233,02735132,2641,520
Columbiana666028,16310,469,5895,3134695174,4931,971
Coshocton1147513,95391475513,953153
Guernsey1071051,182,20311,360,1449,39111,259126108,1921,210
Harrison2572552,238,90344,154,27921,8098,780103173,1542,025
Jefferson24201468,360,628164070418,0315,098
Mahoning13122,275741,558799190361,797928
Monroe13413164,13963,316,43610,3464906483,3326,120
Morgan226,65381,3731823,3273740,687447
Muskingum1157910,41291579610,412114
Noble116116537,32534,225,60010,2534,63252295,0483,338
Portage41143,403141413,403243
Stark221,45235,069182726817,535193
Trumbull441,80992,712278452723,178333
Tuscarawas7520,164108,9652714,0337421,793402
Washington965,023587,0904408371197,8481,334



And finally, breaking down the data by operator:

OPERATORTOTAL # OF WELLS# OF PRODUCING WELLSOILGASDAYSOIL/WELLOIL/DAYGAS/WELLGAS/DAY
Antero Resources Corporation129128426,28451,244,81311,3423,33038400,3504,518
Artex Oil Company663,892131,513546649721,919241
Ascent Resources Utica LLC84831,260,29729,954,2227,12215,184177360,8944,206
Atlas Noble LLC121217,1251,844,52910921,42716153,7111689
Carrizo (Utica) LLC4351,513261,97919017,17127187,3261379
Chesapeake Appalachia LLC64331688657329804221645133
Chesapeake Exploration LLC6085952,453,86986,385,52452,2224,12447145,1861,654
Chevron Appalachia LLC6684,818388,12743014,13619764,688903
CNX Gas Company LLC4241118,0839,615,9272,9042,88041234,5353,311
Eclipse Resources I LP5454334,96711,798,8044,8606,20369218,4962,428
EM Energy Ohio LLC221,099978,1121465508489,0566,699
Enervest Operating L553,86059,044455772811,809130
EQT Production Company6610,471102,7815371,7451917,130191
Gulfport Energy Corporation180180281,14677,532,84015,1981,56219430,7385,102
Halcon Operating Company Inc552,440123,010369488724,602333
Hess Ohio Developments LLC5451149,95218,685,1034,1382,94036366,3754,515
Hilcorp Energy Company101001,728,24483700172,8242,065
Mountaineer Keystone LLC200000000
NGO Development Corp.1147513,95391475513,953153
PDC Energy Inc2323145,325872,4232,0726,3187037,931421
Protégé Energy III LLC111,889276,776401,88947276,7766919
R E Gas Development LLC353584,5162,936,6152,6862,4153183,9031,093
Rice Drilling D LLC3316018,292,160553001,143,26033,078
Statoil USA Onshore Prop Inc9727,986396,6053573,9987856,6581,111
Triad Hunter LLC12822,8682,154,1137282,85931269,2642,959
XTO Energy Inc.22212,94612,071,96414551402574,8558,297




Click here to download the spreadsheet containing all fourth quarter production data.


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