- Our contrarian view on US oil production is that the rebound observed in July and August so far is way higher than what the consensus is estimating.
- With all of the shut-in production returning, US oil production is expected to peak at ~11.7 mb/d in August.
- Monthly basin decline rates at today's completion activity level is ~260k b/d.
- By year-end, this will push US oil production down to ~10.7 mb/d.
- If frac spread count doesn't rebound to 175+ by Q1 2021, then US oil production will fall to low ~10 mb/d.
Monday, August 17, 2020
Seeking Alpha - A Contrarian View On U.S. Oil Production
Summary
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment