EnerCom released its EnerCom Effective Rig Count today. Launched in January, the Effective Rig Count seeks to account for improved productivity from recent development. New technologies and techniques have allowed wells to be drilled faster and produce more hydrocarbons. Each rig yields greater production now than it did before the downturn.
Based on the Effective Rig Count, rigs in the Utica have seen the greatest productivity increase, yielding 4.4x as many barrels of oil equivalent on an individual basis in March 2017 (the last month with available data for both rigs and production) than rigs in the region were producing in January 2014, when oil prices were at their peak in the triple digits.
Significant productivity gains are also seen in the Permian and Niobrara. 347 rigs were active in these two basins in March, but increased productivity means these rigs are creating production equivalent to 1,193 rigs from early 2014.
Read: https://www.oilandgas360.com/enercom-ef ... ises-1765/
The "Effective Rig Count"
The "Effective Rig Count"
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group