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Lynn Helms - Director's Cut

Jul 17, 2020


Lynn HelmsOil Production
April 36,630,583 barrels = 1,221,019 barrels/day
May 26,610,234 barrels = 858,395 bbl/day
(All-time high: November 2019: 1,519,027 BOPD)

Gas Production
April Production 81,355,528 MCF = 2,711,851 MCF/day
Gas Captured: 88% 71,934,308 MCF = 2,480,493 MCF/day
May Production 59,778,353 MCF = 1,928,334 MCF/day
Gas Captured: 88% 53,053,543 MCF = 1,711,405 MCF/day 
 
The drilling rig count was stable in the mid 50s second half of 2019 through April 2020. Drilling rig count is currently 12, down 82% January to May of 2020.

The number of well completions has been very volatile and dropped dramatically since March as the number of active completion crews decreased from 25 to 1.

Lower crude oil price has put extreme downward pressure on rig and completion crew counts. Unemployment claims published every Thursday are indicating approximately 10,250 layoffs as of 7/11/20 with thousands more jobs at risk as PPP expires.

Drilling permit activity is slower but has held up through the oil price collapse. Operators are still attempting to maintain a permit inventory of approximately 12 months and some experienced drilling rig and completion crews.

Click here for the full report.
 
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