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Lynn Helms - Director's Cut

Feb 15, 2018

Lynn HelmsOil Production
November 35,909,275 barrels = 1,196,976 barrels/day (final)
December 36,620,883 barrels = 1,181,319 barrels/day (preliminary)
(all-time high was Dec 2014 at 1,227,483 barrels/day)

Gas Production
November 62,893,200 MCF = 2,096,440 MCF/day
December 64,527,191 MCF = 2,081,522 MCF/day (all-time high was 2,096,440 MCF/day in November 2017)

The drilling rig count was down two from November to December then increased four from December to January, and is currently up one from January to today. Operators have shifted from running the minimum number of rigs to incremental increases and decreases as WTI oil price moves between $45 and $60/barrel. 

If WTI drops below $45/barrel for more than 30 days rig count is expected to drop. If WTI remains above $55/barrel for more than 90 days rig count is expected to rise. Current operator plans are to add 5-10 rigs in the second and third quarters of 2018 depending on workforce and infrastructure constraints.

The number of well completions has become highly variable from 77 (final) in November to 93 (preliminary) in December.

Click here for the full report.

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