In this episode, Ben MacFarlane with Blackbird BI and I discuss U.S. Oil and Gas Trends across the major shale basins and plays. Ben reveals the current activity levels and what future activity levels might look like across the U.S. He also shares what current activity level will mean for future production rates in each area and which counties are seeing the most activity. Be sure to download the free report that Ben is sharing with our listeners to follow along and learn about the outlook for your area.
I had the pleasure of talking with Ben a few days after he gave an interesting talk at the National Assocation of Royalty Owners (NARO) Colorado chapter conference in Denver. We recorded our August 2022 Mineral Rights News Episode live during the convention.
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About Ben MacFarlane
Ben MacFarlane is an Oil & Gas Economist, data engineer and the founder of the data insights company Blackbird BI.
After being honorably discharged from the U.S. Army in 2001, Ben worked as a field and gas plant operator for five years and then received a M.S. degree in Mineral Economics from Colorado School of Mines.
He then worked for BENTEK Energy for 5 years where he analyzed and forecasted oil, gas and NGL supply, demand and prices, and presented his findings at conferences and written reports.
He then went back to DCP Midstream from 2012-2018 as a Finance and Strategic Planning analyst where he evaluated project economics, developed a model used to optimize ethane rejection levels at 60 gas plants, as well as developing a production forecasting model for estimating future processing plant capacity needs.
While at DCP, Ben came across Microsoft’s modern analytic technology, Power BI. He realized it was a game-changer and started Blackbird BI in 2018 to help companies better analyze oil and data.
Blackbird’s online Power BI data reports cover rigs, permits, DUCs, well production data, and production forecast scenarios so users can track market trends and drill down to details.
We Discuss
Ben’s background and experience in oil and gas and what he does now.
- So before we talk about the latest activity in a few of the major basins and plays across the US and what the data is telling you, let’s take a step back and talk a little about your background.
- So I understand you served in the U.S. Army before you began working in the oil & gas industry. What was that experience like and where were you stationed?
- So what did you do after leaving the Army and what led you to want to work in oil & gas?
- What were some of the most interesting parts of working in the field? Where did you work?
- So then you decided to get a Masters in Mineral Economics from the Colorado School of Mines?
- So after getting your masters how did you apply that degree to working in the industry?
- What led you to start Blackbird BI and can you tell us a little about your company?
- What types of clients do you have? Are they mostly oil & gas operators or also mineral and royalty owners?
- What type of work do you do for mineral and royalty owners?
U.S. Oil and Gas Trends
Ben gave an excellent talk at the National Association of Royalty Owners Colorado state chapter convention in August of 2022. Ben prepared some really cool information for today’s discussion around what is going on in the major oil & gas basins & plays around the US. Be sure to click this link to download Ben’s presentation so you can follow along and look at the charts and graphs that we talk about!
Again, everything that Ben and I talk about in this episode is based on his free U.S. Oil and Gas Trends Report that he created exclusively for our listeners. Be sure to download the report so you can follow along and look at the charts and graphs while you listen to this episode!
Permian Basin
- Ok so let’s get started with the big boy, the largest and most active oil play and that is the Permian Basin. What are you seeing there?
- What counties are seeing the most activity over the past couple of years?
Appalachian Basin / Marcellus Shale
- What about natural gas, I know the Marcellus is the largest gas play, have things picked up there as well with the recent high natural gas prices?
Bakken / Williston Basin
- How about the Bakken? How have the recent regulations limiting flaring affected production? How are things looking there?
Powder River Basin
- I know there has been a lot of talk about the Powder River Basin over the past few years and it seems that it hasn’t lived up to the hype yet. Are things pickup up again with oil prices near $100/bbl?
Denver – Julesburg Basin (DJ Basin)
- What about my favorite oil & gas basin, the DJ Basin. I know the economics in the DJ are second to only the Permian and the Haynesville in terms of U.S. basins/plays. I know things have started pick up again after the new oil & gas regulations went into effect and with oil & gas prices rebounding. What are you seeing?
SCOOP / STACK / Anadarko Basin
- How about Oklahoma, I know a lot of our listeners have interests there, including me. It seems like production is way down from the pre-pandemic peak. If the number of rigs stay flat will production recover or are we really looking at the status quo going forward?
Eagle Ford
- When I look at the rig report each month it seems like two basins are consistently seeing new rigs added and that is the Permian but also the Eagle Ford. Let’s talk about the Eagle Ford shale in south Texas.
How to Contact Ben
- Phone: (970) 231-9159
- Email Ben MacFarlane: benmac@blackbirdbi.com
Resources Mentioned in This Episode
- Blackbird BI U.S. Oil and Gas Trends Report. This is the report that Ben and I discuss during this episode. Be sure to download the report so you can follow along and look at the charts and graphs while you listen!
Thanks for Listening!
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Thanks again – until next time!
Great discussing oil and gas production with you Matt!