US Shale Declining and OPEC Still Climbing
First the Drilling Productivity Report. Of course most of the Drilling Productivity Report is projection, not history. And that projection goes through September 2015.
The EIA has the Bakken peaking in December and declining 107 thousand barrels per day since that point. A secondary peak was reached in April and declining steadily since then.
The EIA has Eagle Ford peaking in March and declining 226 thousand barrels per day since that point.
The EIA has Niobrara peaking in March, almost flat for one month then declining sharply after that for a total decline of 75 thousand barrels per day after that.
The Permian was the only major shale area with no decline so far. The EIA has the Permian up 29 thousand barrels per day since the rest of the field, combined, peaked in April.
The EIA has total shale peaking in April at 5,434000 bpd and declining by 360 thousand barrels per day by September to 5,074000 bpd. 360,000 barrels per day is quite a decline by September.
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