Oil

Oil
Tuesday, May 16, 2023
Somehow the frackers keep grinding it out -- and not just in the Permian anymore. More production, fewer rigs. We call that productivity. 
Oil
Monday, April 17, 2023
There it is! A new all-time high for US crude production from shale. With a falling rig count, this pops our crazy productivity snake-chart on page 5 to a new optimum on the efficient frontier.
Oil
Monday, March 13, 2023
Production rises, rig count falls. Drilled-but-uncompleted wells are gone -- that is, they are back to their lows of 2014 -- so at this point, real drilling (and real capex) are going to have to come into play.
Oil
Monday, February 13, 2023
US shale production of crude oil is now up 200,000 barrels per day above the pre-pandemic peak in early 2020. The problem is that far more than all of that -- 864,000 barrels per day -- comes from just the Permian play in West Texas. At the same time, non-shale production is off-peak by 1,179,000 barrels per day. Put simply, if it weren't shale, indeed if it weren't for one shale play in West Texas, oil would likely be at least $250 a barrel.
Oil
Tuesday, January 17, 2023
This is it. US crude production from shale hits a new all-time high at 9.38 million barrels per day. It's being done with only two thirds the rigs deployed just four years ago (and one third the number deployed eight years ago).
Oil
Monday, December 12, 2022
There it is! The Biden administration can huff, and the Biden administration can puff. But US crude oil production from shale just posted a new all-time high. To be sure, it's all thanks to just one play -- the Permian. There's so much more we could be doing to fuel a hungry world. 
Oil
Monday, November 14, 2022
Shale production is now back to within just 82,000 barrels per day of the pre-pandemic all-time high. Imagine what we could do if the federal government took the chains off. 
Oil
Monday, October 17, 2022
Look at the last page, top chart. US crude ending stocks. The Biden drawdown of the Strategic Petroleum Reserve is astonishing. 
Oil
Monday, September 12, 2022
The equation for US shale: higher output + lower rig count = productivity.
Oil
Monday, August 15, 2022
US shale production is only 600,000 barrels per day below the pre-pandemic peak, with nice increases this month in every region. The problem is that it's the only production sector that is growing at all.

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