- Some oilfield operators have consistently shown an ability to increase production per well, so the decrease in rig count does not proportionally correlate to a change in production, says NavPort's Eric Foster, who has collated oil well and rig data.
- In a case study focusing on horizontal shale wells in the Eagle Ford basin in Texas, NavPort found that Pioneer Natural Resources (NYSE:PXD) was easily the most efficient fracker last year, with average boe per well during the first 180 days of production of ~142K barrels; ConocoPhillips (NYSE:COP) and Marathon Oil (NYSE:MRO) were the other two companies with 100K-plus boe/well.
- Murphy Oil (NYSE:MUR) showed the greatest efficiency improvement during 2014 among the top 10 Eagle Ford basin oil producers; the only producers in the top 10 showing declines in production per well were BHP Billiton (NYSE:BHP) and Rosetta Resources (NASDAQ:ROSE).