TGS’ Well Data Analytics reveals noteworthy insights into the first 90 days of hydrocarbon production.
In a rapidly evolving energy market, oil and gas producers constantly analyze data to identify trends that can shape future exploration and production strategies. A recent study using TGS' Well Data Analytics application has revealed some noteworthy insights into which U.S. basins are dominating oil and gas output during the first 90 days of production, also known as the IP90 period.
The Williston Basin reigns supreme in terms of oil output during the IP90 period. According to TGS' data, over the last three years, the average well in the Williston Basin produced an impressive 82,500 barrels of oil (bbl) in the first 90 days of production, leading all other U.S. basins (Figure 1). Trailing behind are the Delaware Basin and the Uinta Basin. The Delaware Basin produced an average oil IP90 of 78,000 bbl, while the Uinta Basin came in third with 75,500 bbl.
Figure 1. Bar chart showing Oil IP 90 for horizontal wells in the U.S. since 2021.
While the Williston Basin leads in oil, the average well in the Haynesville Play, a sub-region in the East Texas Basin, is the clear leader in natural gas production during the first 90 days of production over the last three years (Figure 2). TGS' data shows that the Haynesville produced a remarkable 1,705 million cubic feet (MMCF), far surpassing other basins. The Appalachia Basin followed with 1,384 MMCF of natural gas, with the greater East Texas Basin also making an appearance, producing 1,239 MMCF. The Haynesville’s dominance in gas production within the first 90 days of a well’s production highlights the region’s importance in the U.S. natural gas market, driven by prolific shale formations.
Figure 2. Bar chart showing Gas IP 90 for horizontal wells in the U.S. since 2021.
While the Williston Basin and Haynesville Play continue to lead in oil and gas IP90 production, respectively, our analysis also identified another basin worth watching: the Great Divide Basin. This basin, located in the Rockies, achieved the best year-over-year growth (97%) in the past year when normalized by well count, signaling the potential for a re-emergence of the Rockies as a key player in the U.S. energy market. The growth in the Great Divide Basin follows a broader trend that shows renewed interest and investment in the Rockies. This is in alignment with the conclusions from an analysis on the Paradox Basin a few weeks ago, as well as recent M&A activity in the Uinta Basin. As producers look to diversify and find new areas of opportunity, the Rockies will play an increasingly important role in the future of U.S. oil and gas production.
For more information about TGS Well Data Analytics or to schedule a demo, contact us at WDPSales@tgs.com.
