IHS Global Insights has a new study out comparing the productivity of Bakken and Eagle Ford wells. Looks like the wells in Eagle Ford are pumping out more oil. The announcement of the study is at Eagle Ford Shale Drilling Results Compare favorable with Bakken, Says IHS.
Check out this comment on comparative productivity:
The most frequent well result of the Eagle Ford is around 300 barrels per day to 600 barrels-per-day for a peak month production average, Byrne said, compared with 150 barrels-per-day to 300 barrels-per-day for the Bakken. The best wells in the Bakken have an average peak-month production rate of 1,000 barrels-per-day or more, while the Eagle Ford central area’s top wells are even better on a barrels-of-oil-equivalent (BOE) -per-day basis.
Typical peak month production 300 – 600 bopd in Eagle Ford and 150 – 300 bopd in Bakken. Best wells are at 1,000 bopd in Bakken with the best in Eagle Ford higher than that!
Mark Perry pointed out the study. His article is at Move Over Bakken, Here Comes Eagle Ford Shale. If you’ve been reading this blog, you already knew about Eagle Ford.
Number of drilling rigs in Eagle Ford is running something in the range of 270-280, which is about 30% ahead of the rigs working in North Dakota, which has been in the range of 210-215 lately. At that rate it won’t take long for the production in Eagle Ford to catch up with Bakken. With the increased output per well the above article mentions, it definitely won’t be long.
Peak what?
Professor Perry usually ends his posts on energy with the comment “Peak what?”
That phrase he is looking for is Peak Oil.
As in Peak We-will-never-find-another-new-field.
Or Peak We-won’t-ever-figure-out-a-new-way-to-get-more-oil-out-of-an-existing-field.
Or maybe Peak We-are-going-to-run-out-of-oil-tomorrow-morning-or-certainly-by-lunch.