The Energy Information Administration (EIA) will start publishing detailed monthly reports for regions where hydraulic fracturing has led to surging oil and gas drilling and production.
The Energy Department’s EIA will launch the monthly “drilling productivity reports” on Tuesday to “provide region-specific insights into rig efficiency, new well productivity, decline rates at previously existing wells, and overall production trends.”
The reports will cover Bakken, Marcellus, Niobrara, Permian, Eagle Ford, and Haynesville.
“The DPR metrics are intended to be more informative than traditional indicators such as simple counts of oil-directed and gas-directed drilling rigs in use,” the EIA said in a preview of the reports published Monday
“In the past few years, the United States has experienced a rapid increase in natural gas production from shale resources and oil production from shale and other tight resources,” the EIA said. “This game-changing development has resulted in a significant reduction in the price of natural gas in the United States, both in absolute terms and compared with prices in other major consuming countries, as well as a significant decline in U.S. dependence on imported petroleum.”
Given the importance of drilling productivity trends as a driver for future domestic production, the EIA said, it has been developing new approaches to assess the productivity of drilling operations.