Thursday, April 3, 2014

UK Oil and Gas Production: DEC 2013

The UK Dept of Energy and Climate Change finally released Dec 2013 oil and gas production data, along with an upward revision to Nov 2013 data.  Within the historical seasonality patterns, oil production was down YOY in December just as it was in November.  Dry Gas volumes recovered from prior month lows, as they have in each of the last three years, but continued an overall annual double digit decline rate (approximately 15% based on the preliminary December '13 figures).