Wednesday, March 25, 2015

Below The Century Mark, Break On Through To The Other Side -- March 25, 2015

Active rigs:

Active Rigs98198186206170

From SeekingAlpha late today:
  • The number of drill rigs in North Dakota’s oil patch has slipped below 100 for the first time in five years thanks to weaker crude oil prices.
  • Only 98 rigs are now drilling in the area, 100 fewer than on the same day a year ago and the lowest since March 2010.
  • North Dakota has been producing ~1.2M bbl/day of oil, and industry officials say ~115 rigs need to be drilling to keep that level of production.
115 rigs: only if the wells are fracked; there is currently a record number of wells waiting to be fracked: 850.

Break On Through To The Other Side

Break On Through, The Doors

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