{"id":36182,"date":"2018-07-26T05:52:43","date_gmt":"2018-07-26T10:52:43","guid":{"rendered":"http:\/\/olduvai.ca\/?p=36182"},"modified":"2018-07-26T05:52:43","modified_gmt":"2018-07-26T10:52:43","slug":"top-u-s-shale-oil-fields-decline-rate-reaches-new-record-half-million-barrels-per-day","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=36182","title":{"rendered":"Top U.S. Shale Oil Fields Decline Rate Reaches New Record\u2026. Half Million Barrels Per Day"},"content":{"rendered":"<header class=\"entry-header clearfix\">\n<h3 class=\"entry-title\"><a href=\"https:\/\/srsroccoreport.com\/top-u-s-shale-oil-fields-decline-rate-reaches-new-record-half-million-barrels-per-day\/\">Top U.S. Shale Oil Fields Decline Rate Reaches New Record\u2026. Half Million Barrels Per Day<\/a><\/h3>\n<\/header>\n<div class=\"entry-content clearfix\">\n<p>While the U.S. reached a new record of 11 million barrels of oil production per day last week, the top five shale oil fields also suffered the highest monthly decline rate ever.\u00a0 This is bad news for the U.S. shale industry as it must produce more and more oil each month, to keep oil production\u00a0from falling.<\/p>\n<p><strong>According to the newest EIA Drilling Productivity Report, the top five U.S. Shale Oil fields monthly oil decline rate is set to surpass a half million barrels per day in August.\u00a0<\/strong> Thus, the companies will have to\u00a0produce at last 500,000 barrels of new oil next month just to keep production flat.<\/p>\n<p>Here are the individual shale oil field charts from the EIA\u2019s July Drilling Productivity Report:<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19022\" src=\"https:\/\/d3hxt1wz4sk0za.cloudfront.net\/wp-content\/uploads\/2018\/07\/Top-Shale-Oil-Fields-Decline-Rate-Aug-2018.png?x65756\" alt=\"\" width=\"600\" height=\"536\" data-pagespeed-url-hash=\"456261559\" \/><\/p>\n<p>The figures that are\u00a0shown above the UP arrow denote the forecasted new production added next month while the figures above the DOWN arrow provide the monthly legacy decline rate.\u00a0 For example, the chart on the bottom right-hand side is for the Permian Region.\u00a0 The EIA forecasts that the Permian will add 296,000 barrels per day (bpd) of new shale oil production in August, while the existing wells in the field will decline by 223,000 bpd.<\/p>\n<p>If we add up these top five shale oil fields monthly decline rate for August will be 503,000 bpd.\u00a0 Thus, the shale oil companies must produce at least 503,000 bpd of new oil supply next month just to keep production from falling.\u00a0 And, we must remember, this decline rate will continue to increase as shale oil production rises.<\/p>\n<p>We can see this in the following chart below.\u00a0 Again, according to the EIA\u2019s figures, <strong>t<\/strong><strong>he top five U.S. shale oil fields monthly legacy decline rate increased from 398,000 bpd\u00a0in January to 503,000 bpd for August<\/strong>:<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Top U.S. Shale Oil Fields Decline Rate Reaches New Record\u2026. Half Million Barrels Per Day While the U.S. reached a new record of 11 million barrels of oil production per day last week, the top five shale oil fields also suffered the highest monthly decline rate ever.\u00a0 This is bad news for the U.S. shale [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[251,20976,595,12073,846,9433],"class_list":["post-36182","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-eia","tag-oil-field-decline-rate","tag-oil-production","tag-srsrocco-report","tag-us-shale-oil","tag-us-shale-oil-production"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36182"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36182\/revisions"}],"predecessor-version":[{"id":36183,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/36182\/revisions\/36183"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}