Oslo-based Rystad Energy said Aug. 14 most U.S. onshore operators will restore most shut-in oil volumes by end of 2020Q3. Rystad’s report was based on analysis of quarterly reports of 25 public oil operators. Curtailments peaked in May with a net 772,500 barrels per day taken off the market by 25 operators. That decreased to 680,300 b/d in June, 306,500 b/d in July and 74,300 b/d in August taken off the market. Rystad vice president Veronika Akulinitseva said, “No loss of production has been reported by any operator following the shut-ins and moderation of output.” Most companies are experiencing “a smooth return of operations.”
Companies in the sample group include Continential, EOG, ConocoPhillips, ExxonMobil, Chevron, Parsley, Diamondback, Occidental, Devon, Concho, Apache and Pioneer.