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Here is a Novi chart for all HZ tight oil wells drilled in the Permian Basin since 2006. As you can clearly see, well productivity is declining when defined as estimated ultimate recovery over time (EUR), the ONLY metric to use in gauging the economic success of a well. Not how big the IP is, or how much cash flow it can deliver in the shortest period of time, but ultimate recovery. If EURs are declining, recovery rates of oil in place along the HZ lateral is declining.
Look at 2025 wells (yellow)!!
Not very many people get this metric and what it means for America's hydrocarbon future. Or basically, they don't care. The public is brainwashed by the tight oil sector, data-sell companies and the Federal government into believing the Permian will produce oil and natural gas for the next 30 years. Its a lie. To produce another 10 years will take 40,000 more wells and $200 billion more debt than the $250 billion the tight oil sector in the U.S. already owes.
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The materials provided on this site are for informational and educational purposes only and are not intended to provide tax, legal, or investment advice. I may make data related mistakes occasionally; if you use my opinions about oil reserves or shale well economics for financial purposes, to buy or sell stocks, your nuts. Don't do that. If I have used a photograph incorrectly it was for educational purposes and I have done my best of to give credit where credit is due. My stories are all true, slightly embellished, perhaps, but true; I don't change names to protect the guilty. I am as accurate as possible about history and historical facts; I work very hard at that.All rights are reserved, whatever that means. Don't blame me, I didn't do it.
