RE:Drilling Productivity ReportOne thing I have noticed with present DPR s is the constantly declining rig productivity numbers. For January 2023 the average oil rate was 952 BPD the average gas rig rate was 5434 kscfpd
Contrast that to January 2022 oil rigs at 1135 and gas rigs at 6327.
So productivity has fallen 16 % for oil and 14% for gas
This is completely the opposite of the prior years where productivity was constantly rising
Could it be that we are now in a whole new era of diminishing petroleum supplies ??
Oldnagger wrote: Latest report now out. February crude up,by 76 kbpd , nat gas up by 0.466 bcfpd.
Sounds negative , but productivity is once again down and has been on a year over year basis. Also DUC s now rising as frac spread counts are still low
https://www.eia.gov/petroleum/drilling/