Production per new rig rises in Anadarko Region

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  • U.S. Energy Information Administration
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According to the February 2020 Drilling Productivity Report for the Anadarko Basin Region produced by the U.S. Energy Information Administration, while observed rig counts have fallen for new-well oil production and natural gas production since late 2018, production per new rig has increased significantly over the same period.

February itself did see an overall reduction in production month over month, with oil down 10 thousand barrels per day and gas production down 140 million cubic feet per day. But the average new oil rig provided an additional 29 barrels per day and gas rig produced 116 thousand cubic feet per day respectively.

Legacy oil and gas production continue to fall since a slight plateau in 2017, but new technologies in drilling and efficiencies in production has helped keep overall production levels relatively stable. In fact, crude oil production in Oklahoma set records in 2018 by passing 200 million barrels for the first time in history and eclipsed 212 million barrels in 2019.