September 16, 2024

California Oil Production

California production in 1980-1986 was over 1,000 MBbl/d. Since then, production has continuously declined reaching 325 MBbl/d in 2023. Production is expected to continue dropping to about 75 MBbl/d in 2040. Average new well EUR in 2014-2023 was 30 MBbl. The basin reached a maximum new well average initial productivity in 2013 at 180 Bbl/d. Incorrys does not expect any significant drilling in this basin during the forecast period.

California Oil Well Locations and Drilling

2020-2023	Average Lateral Length	1,500 ft
2020-2023	Average Total Well Depth	2,600 ft

Location: Kern County, San Joaquin Valley and the Los Angeles basin. Number of oil wells drilled since 2010: ~ 16,700 Average New Well Initial Productivity in 2023: 63 Bbl/d Peak Production: 2014 (~432 MBbl/d)