The Eia has finally updated their International Energy Statistics with data through February 2015. All data in the charts below are Crude + Condensate and is in thousand barrels per day with the last data point February 2015.
World C+C dropped 477,000 bpd in January and another 65,000 bpd in February for a total decline of 542,000 bpd. World C+C stood at 79,160,000 barrels per day in February.
The EIA updated their International Energy Statistics on Monday September 29. However there was an error in their data which I caught right away. They had Kazakhstan increasing C+C production by 856,000 barrels per day.
Above is their C+C data, January through June. I emailed Patrica Smith, the EIA employee who posts these stats. She emailed me right back:
Mr. Patterson, Thank you very much for catching the error. The numbers were transposed. I will ask the database manger to make the correction.
So I waited. The next day the correction had not been made so I emailed her back asking her for the correct numbers because this error also affected total world production as well as non-OPEC production. She emailed me back:
Mr. Patterson, The crude number should be 1520 instead of 2420.
So the number was off by 900 kbpd, Kazakhstan C+C production was actually down 44 kbpd instead of up 856 kbpd. And here three days later the correction still has not been made in the database. I think the international data is getting a very low priority these days. A few years ago, when the International Petroleum Monthly was still being published, they made a similar error. They had Canadian production one million bpd too high. I emailed Ms. Smith and the correction was made immediately and an email went out from the EIA, to all subscribers of the data, informing them of the data error and correction.
Anyway, the data for all charts below is in thousand barrels per day with the last data point June 2014.
Production from Kazakhstan’s Kashagan field is not expected until the second half of 2016, or about two years from now.
World C+C production was up 189 kbpd in June to 76,695 kbpd but is still down 747 kbpd below the peak in February.
The Bakken and North Dakota production numbers are in for June. There was a big jump in oil production in June. The Bakken was up 53,162 barrels per day to 1,028,352 bpd. All North Dakota was up 52,148 bpd to 1,092,617 meaning the area outside the Bakken was down about 1,000 bpd.
From the Director’s Cut:
May Sweet Crude Price = $88.31/barrel
June Sweet Crude Price = $90.03/barrel
July Sweet Crude Price = $86.20/barrel
Today’s Sweet Crude Price = $79.50/barrel (all-time high was $136.29 7/3/2008)
The drilling rig count was up one from May to June, and up two more from June to July.
The number of well completions increased as weather impacts eased in June with
significant rainfall on 2 days near Minot and 1 day near Dickinson. However, there were
still 6 to 8 days with wind speeds in excess of 35 mph (too high for completion work).
At the end of June there were about 585 wells waiting on completion services, a decrease
of 25.
For the first time in a couple of years he did not give us the exact number of new well completions, only that they increased. Last month there were 227 well completions and production was up 37,000 bpd so we can assume there were aroun 235 to 240 new well completions in June.
Well completions should not be confused with “additional wells producing. That is and entirely different figure.
Additional wells producing is new wells completed, plus previously shut down wells brought back on, line minus wells shut down. Sometimes this number goes negative as it did in December of 2013. That month “Wells Producing” dropped by 52 even though there were 119 new wells completed. All data is barrels per day.