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Wednesday, September 6, 2017

Digging Deep into the Utica Shale Production Data from Quarter 2 of 2017

The Ohio Department of Natural Resources has now released the production data from the Utica shale for the second quarter of 2017. 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 second quarter of 2017. As a reminder, all oil figures are 42-gallon barrels, and all gas production is measured in MCF:



So, after four consecutive quarters of declining oil production, the first two quarters of 2017 have seen a back-to-back rise in total oil production.  Production rates dropped off in comparison to the first quarter of the year, though.

Gas production hit a new single-quarter peak for the second straight quarter.

The next table shows the production comparison year-over-year, as well as a look at where 2017 production is on pace to end up based on the first two quarters.




The oil production results continue to suggest that production could be on the decline for the year of 2017. If oil production continues at its current pace, over 2,000,000 less barrels would be produced from the Utica shale in Ohio in 2017 than in 2016.

Gas production continues to be on the pace to increase year-over-year yet again.  After quarter one the pace suggested an increase of 117,000,000 MCF, but with an uptick in gas production during quarter two the Utica is now on pace to produce over 150,000,000 more MCF in 2017 than last year.

TOP PRODUCING WELLS

Here are the top 10 oil-producing wells in quarter two of 2017:




And here are the top 10 gas-producing wells:



COUNTY-BY-COUNTY

Here is the production data broken down by county:



OPERATOR-BY-OPERATOR

And here are the results broken down by operator:




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