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Thursday, December 15, 2016

Deep Dive Into the 3rd Quarter 2016 Utica Shale Production Figures

The Ohio Department of Natural Resources has now released the production data from the Utica shale for the third 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.

PRODUCTION RATE COMPARISONS

First up, let's take a look at how the quarterly data compares from the 1st quarter of 2014 through the third 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
2016-21415/13654,839,792334,257,982118,036413,5462,832244,878
2016-31492/14593,954,095360,681,356126,827312,7102,844247,211

So, the decline in oil production rates continued in the third quarter.  The following graph illustrates the drop:



The gas production rates have been much steadier:


This next chart looks at the yearly total production figures and how they compare to the first three quarters of 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 YTD14,279,7411,024,477,176
TOTALS51,616,3512,546,716,889

So there has already been more natural gas produced in 2016 than in any other year, and once the fourth quarter production figures are in there may be more gas produced this year than in 2014 and 2015 combined.

Oil produced, on the other hand, is almost certainly going to drop year-over-year for the first time since the beginning of the shale boom.  It's nearly 1.5 million barrels behind the total oil production of the first three quarters in 2015.

TOP PRODUCING WELLS

The top 10 oil-producing wells of 2016 quarter three:


OPERATORCOUNTYWELL NAME/NO.OILOIL/DAY
ECLIPSE RESOURCES I LPGUERNSEYPURPLE HAYES 1H749541292
CHESAPEAKE EXPLORATION LLCGUERNSEYHD MCCLAIN 28-9-7 3H45291492
ASCENT RESOURCES UTICA LLCGUERNSEYEGGLESTON WLS GR 2H36331395
R E GAS DEVELOPMENT LLCCARROLLGOEBELER UNIT 2H34568397
ASCENT RESOURCES UTICA LLCGUERNSEYEGGLESTON WLS GR 4H33125360
R E GAS DEVELOPMENT LLCCARROLLGOEBELER UNIT 1H32473369
R E GAS DEVELOPMENT LLCCARROLLGOEBELER UNIT 3H31871362
R E GAS DEVELOPMENT LLCCARROLLPERRY UNIT 1H31757447
CHESAPEAKE EXPLORATION LLCGUERNSEYHD MCCLAIN 28-9-7 5H30737338
CNX GAS COMPANY LLCNOBLERESERVE NBL39CHSU29400320

For the sake of comparison, the total production from these 10 wells during the third quarter was nearly 41,000 barrels lower than the total from the top 10 wells of the second quarter.  That is nearly a 10% drop.

Here are the top 10 gas-producing wells of the third quarter:


OPERATORCOUNTYWELL NAME/NO.GASGAS/DAY
ASCENT RESOURCES UTICA LLCBELMONTCRAVAT N WHL BL 3H-A1,593,188 17,317
ASCENT RESOURCES UTICA LLCBELMONTCRAVAT S WHL BL 4H1,583,092 17,208
ASCENT RESOURCES UTICA LLCBELMONTCRAVAT N WHL BL 1H1,515,518 16,473
ECLIPSE RESOURCES I LPMONROEFUCHS A 4H1,497,079 16,634
ASCENT RESOURCES UTICA LLCBELMONTCRAVAT S WHL BL 2H1,496,235 16,263
GULFPORT ENERGY CORPBELMONTCONWAY 210119 3C1,494,377 16,422
RICE DRILLING D LLCBELMONTBOUNTY HUNTER 2H1,492,709 16,225
GULFPORT ENERGY CORPBELMONTCONWAY 210464 1A1,488,040 16,352
GULFPORT ENERGY CORPBELMONTCONWAY 210119 5A1,479,789 16,261
GULFPORT ENERGY CORPBELMONTCONWAY 210119 4B1,467,073 16,122

Once again, gas production contrasts from oil production.  The top 10 gas wells in the third quarter produced about 2% more than the top 10 wells in the third quarter, and the production rates were up as well.

COUNTY-BY-COUNTY


COUNTY# OF WELLS TOTAL# OF WELLS PRODUCINGOILGASDAYSOIL/WELLOIL/DAYGAS/WELLGAS/DAY
Belmont24523842,645139,611,96818,7521792586,6057,445
Carroll434432976,18246,266,58139,5752,26025107,0991,169
Columbiana666018,6648,328,6385,5003113138,8111,514
Coshocton113229,3249232249,324101
Guernsey1261251,172,25613,540,04310,1809,378115108,3201,330
Harrison2792741,336,84349,171,91924,8084,87954179,4601,982
Jefferson323015912,403,161239250413,4395,185
Mahoning13114,216678,373879383561,670772
Monroe15114865,26164,369,60412,7884415434,9305,034
Morgan224,83469,3041842,4172634,652377
Muskingum1156411,95992564611,959130
Noble119119309,87525,403,48710,3652,60430213,4752,451
Portage210955009519
Stark221,07730,622184539615,311166
Trumbull331,18882,646276396427,549299
Tuscarawas7616,896144,3452892,8165824,058499
Washington963,113559,287466519793,2151,200

OPERATOR-BY-OPERATOR

OPERATORTOTAL # OF WELLS# OF PRODUCING WELLSOILGASDAYSOIL/WELLOIL/DAYGAS/WELLGAS/DAY
Antero Resources Corporation146 145 195,769 48,673,432 12,440 1,350 16 335,679 3,913
Artex Oil Company6 6 3,401 119,890 552 567 6 19,982 217
Ascent Resources Utica LLC100 100 677,069 37,865,934 8,586 6,771 79 378,659 4,410
Atlas Noble LLC12 12 12,722 1,330,395 1,104 1,060 12 110,866 1,205
Carrizo (Utica) LLC4 3 30,351 214,448 185 10,117 164 71,483 1,159
Chesapeake Appalachia LLC6 4 18 789,013 368 5 - 197,253 2,144
Chesapeake Exploration LLC633 623 1,769,087 82,417,460 56,836 2,840 31 132,291 1,450
Chevron Appalachia LLC8 6 45,590 316,632 552 7,598 83 52,772 574
CNX Gas Company LLC42 40 129,622 10,339,518 3,385 3,241 38 258,488 3,055
Eclipse Resources I LP66 66 365,253 16,733,290 5,254 5,534 70 253,535 3,185
EM Energy Ohio LLC2 2 493 591,569 84 247 6 295,785 7,042
Enervest Operating L5 5 3,104 53,172 460 621 7 10,634 116
EQT Production Company6 6 7,868 92,889 - 1,311 - 71 -
Gulfport Energy Corporation208 208 231,539 79,667,780 18,148 1,113 13 383,018 4,390
Halcon Operating Company Inc4 4 1,758 110,243 368 440 5 27,561 300
Hess Ohio Developments LLC59 55 108,441 19,538,833 4,990 1,972 22 355,252 3,916
Hilcorp Energy Company10 10 - 1,500,361 784 - - 150,036 1,914
NGO Development Corp.1 1 322 9,324 92 322 4 9,324 101
PDC Energy Inc23 23 96,259 720,957 2,109 4,185 46 31,346 342
Protégé Energy III LLC1 1 1,010 384,431 92 1,010 11 384,431 4,179
R E Gas Development LLC40 40 235,390 3,679,625 3,549 5,885 66 91,991 1,037
Rice Drilling D LLC53 53 - 32,184,740 2,941 - - 607,259 10,943
Statoil USA Onshore Prop Inc9 7 22,702 469,905 644 3,243 35 67,129 730
Triad Hunter LLC12 8 12,114 1,512,122 736 1,514 16 189,015 2,055
XTO Energy Inc.36 31 4,213 21,510,910 2,522 136 2 693,900 8,529


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