- not only did production hit a new record, the increase was quite striking -- up 3%
- think about that: when you start getting to high production numbers, each one (1) percent increase translates into a significant amount of actual production measured in bopd
- this new production record was made in one of the colder months of the year in North Dakota
- this new production record was despite record fall in number of active rigs
- this new production record despite new flaring rules
- this new production record despite operators choking back on production
- this new production record despite record number of wells waiting to be completed (around 750)
- Note: 1,227,334 bopd / 12,124 wells = 101 bopd/well, at record level of production / well at a time when wells were being choked back
The record production, I think, can be attributed to:
- incredibly good pool of passionate, dedicated roughnecks with similarly passionate, dedicated first-tier field managers
- better technology in all stages of planning, drilling, completing, but mostly in completion techniques
- better understanding of the Bakken, especially delineation of the sweet spots
Disclaimer: this update is always done in haste; typographical errors are likely. This is for my use only. If this is important to you, you should go to the source.
Oil:
- December, 2014: 1,227,344 bopd (preliminary, new all-time high)
- November, 2014: 1,187,206 bopd (preliminary, new all-time high); 1,188258 (revised)
- delta: 39,086(daily bopd)
- 39,086 / 1,188,258 = 3.3% (last month, November, the increase was only 0.4% -- barely hitting a new record; this month, almost a ten-fold increase in production over previous month)
- December, 2014: 12,124 (preliminary, new all-time high)
- November, 2014: 11,951 (revised); 11,942 (preliminary, new all-time high)
- October, 2014: 11,892; revised 11,942 (preliminary, new all-time high)
- September, 2014: 11,758 (revised); 11,741 (preliminary; new all-time high)
- August, 2014: 11,565
- July, 2014: 11,293
- June, 2014: 11,079
- January, 2015: 246
- December, 2014: 251
- November, 2014: 235
- October, 2014: 328
- September, 2014: 261
- August, 2014: 273
- July, 2014: 265
- June, 2014: 247
- All-time high was 370 in 10/2012
- Today, 2015: $34.50 (lowest since February, 2009) (all-time high was $136.29 7/3/2008)
- January: $31.41
- December: $40.74
- November: $60.61
- October, 2014: $68.94
- Sept, 2014: $74.85
- August, 2014: $78.46
- July, 2014: $86.20
- Today: 137 (lowest since July 2010) (all time high was 218 on 5/29/2012)
- January: 160
- December, 2014: 181
- November, 2014: 188
- October, 2014: 191
- Sept, 2014: 193
- August, 2014: 193
- July, 2014: 192
- June, 2014: 190
Drilling rig count:
- dropped 7 from November to December
- dropped 21 from December to January
- dropped 23 from January to today
- December: 173 (preliminary)
- November: 48
- no major precipitation events
- only 3 days with wind speeds in excess of 35 mph (too high for completion work)
- only 2 days with temperatures below -10F
- 750, a decrease of 25
- decreased to 24%
- Tioga gas plant increased to 76% of full capacity
- expansion of gas gathering from south of Lake Sakakawea is still delayed
- statewide: 76%
- FBIR: 77%
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