EIA to Launch New Monthly Drilling Productivity Report
If you’ve read MDN for any length of time, you know we’re generally not fans of the federal government and the bloated bureaucracy it has become. The EPA, for one, has way overstepped its Constitutional authority in our humble opinion (we call it a rogue agency). There is, however, one federal agency we like and admire and respect: the U.S. Energy Information Administration (EIA). The EIA is populated with bright people that produce helpful and insightful reports about energy production and consumption in the U.S., indeed around the world. While the EIA is not exactly prophetic, their word is about as close to energy Gospel as it gets.
With the so-called government shut-down now over, the EIA is back in business. Yesterday they announced they’re starting up a new monthly report called the Drilling Productivity Report (DPR). The report will tell us just how efficient (or not) rigs are at drilling, and how productive (or not) wells are, by region/shale play. Among the very important things to be tracked in the new DPR will be the decline rate of newly drilled wells–how quickly the gas and oil flowing out of shale wells peters out. Here’s yesterday’s EIA announcement: