Deep Dive Into 3rd Quarter 2017 Utica Shale Production Data

By -
The Ohio Department of Natural Resources has now released the production data from the Utica shale for the third 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 third 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, this makes three quarters in a row with a rise in total oil production.  Production rates dropped off for the second straight quarter, with the amount of oil per day in production matching the low point previously hit in the final quarter of 2016.

Gas production hit a new single-quarter peak for the third straight quarter, and also reached a new high for gas produced per well in production.

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 three quarters.



Oil continues to be on pace for a year-over-year decline of over 1.5 million barrels.  However, gas production continues to be on the pace to increase year-over-year yet again.  

TOP PRODUCING WELLS

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



And here are the top 10 gas-producing wells from quarter three:



COUNTY-BY-COUNTY

Here is the production data broken down by county:

Belmont County has passed Carroll County in terms of the number of permits issued, and is closing the gap on the amount of wells producing.  The numbers make it easy to see why, with the gas production rates far outpacing the performance of Carroll County wells.  Guernsey County, meanwhile, continues to be by far the most productive oil county in terms of production rates.

OPERATOR-BY-OPERATOR

And here are the results broken down by operator:



Connect with us on Facebook and Twitter!

Popular posts from this blog

Fracktivist in Dimock Releases Carefully Edited Video, Refuses to Release the Rest

By -
Image
From Energy in Depth: There is something very strange going on along Carter Road, in Dimock, Pennsylvania, and I’m not speaking of natural gas, methane migration, contamination, litigation or even the extensive water testing there by the EPA and others.  No, I’m talking about a new “Watergate” conspiracy, complete with 18 minutes of missing tape (well, video, actually). It seems the ever-present Green Party member and  naturist   Vera Scroggins  (a/k/a  Vera Duerga ) has posted a video of Craig Sautner meeting with the EPA.  Mysteriously, the video is but 14 seconds in length, cutting off conversation in what is obviously mid-stream.  It raises a question Craig Sautner, like  Ronald Reagan in Kings Row , might have asked, “Where’s the rest of me?’  Carter Road, isn’t Kings Row, of course, (at least not until you arrive at  the mansion Scott Ely, one of the Dimock litigants, is building with his royalty money ), but there appears to be a whole lot of film editing going on there to fi
Read more

The Second Largest Oil and Gas Merger - Cabot and Cimarex

By -
Image
       Due to investor pressure, the U.S shale drillers are being pushed to improve financial and operational performance after a few years of poor returns. Even though the industry has improved its numbers, when compared to last year, investors still want more to be done for them to earn more money.      That's why two mid-tier shale drillers, Cabot and Climarex, have decided to merge in order to eliminate $100 million in annual costs, which means more money for the investors. This all-stock transaction is valued at about $7.4 billion, which is relatively high for the oil and gas sector.      The new entity will be renamed and the headquarters located in Houston, Texas. Cabot shareholders will own 49.5 percent of the new entity, and Climarex the rest.       The Cimarex-Cabot merger will address the investor's demand for a higher amount of returning cash. The initial plan is to pay a 50-cent-per-share special dividend on closing the deal while offering a quarterly variable div
Read more

Is a Strong Oil Demand Expected This Year?

By -
Image
  According to the world's largest oil traders, global oil demand is set for a rebound. Between now and the end of 2022, global consumption is expected to increase by up to 8 million barrels each day. Vitol Group, the world's largest oil trader, supports this statement.  In an interview with Bloomberg, Vitol's chief executive Russell Hardy said, "We'll need all eight cylinders to get through 2022". This, of course, is due to the lower than average demand for oil at the moment. Reopening economies and Asian markets will create a strong demand rebound by the end of this year and in 2022.  Although the demand for jet fuel will slowly increase, it will still be below average at the end of the year. Nevertheless, a surge in petrochemicals will offset the expected delay in jet fuel demand. Last year, the oil surplus reached a record of 1 billion barrels. This excess is already more than halfway drained, and experts believe it will be depleted by the third quarter th
Read more