Thursday, March 12, 2015

Director's Cut Is Out; Data For January, 2015; Number Of Wells Waiting To Be Fracked Rises Significantly From Last Summer; Production Decreases Slightly; Flaring Target In Sight -- March 12, 2015

Link here.

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:

  • January, 2015: 1,190,490 (preliminary -- all time high was last month)
  • December, 2014: revised, 1,227,483 (preliminary - 1,227,344 bopd - preliminary, new all-time high)
  • delta: 36,993 bopd; decrease of 3%.
Producing wells: 
  • January, 2015: 12,181 (preliminary -- new all-time high)
  • December, 2014: 12,134 (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
Permitting:
  • February, 2015: 197
  • January, 2015: 246
  • December, 2014: 251
  • November, 2014: 235
  • October, 2014: 328
  • September, 2014: 261
  • August, 2014: 273
  • July, 2014: 265
  • All-time high was 370 in 10/2012
Pricing:
  • Today, 2015: $32.00 (lowest since February, 2009, and January, 2015) (all-time high was $136.29 7/3/2008)
  • February, 2015: $34.11
  • January, 2015: $31.41
  • December, 2014: $40.74
  • November, 2014: $60.61
  • October, 2014: $68.94
  • Sept, 2014: $74.85
  • August, 2014: $78.46
Rig count:
  • Today: 111 (lowest since April 2010) (all time high was 218 on 5/29/2012) 
  • February: 133
  • January: 160
  • December, 2014: 181
  • November, 2014: 188
  • October, 2014: 191
  • Sept, 2014: 193
  • August, 2014: 193
  • July, 2014:  192
Director's comments:

Drilling rig count:
  • dropped 7 from November to December
  • dropped 21 from December to January
  • dropped 23 from January to today
Well completions:
  • December: 173 (preliminary)
  • November: 48
Weather:
  • no major precipitation events
  • only 5 days with wind speeds in excess of 35 mph (too high for completion work)
  • 8 days with temperatures below -10F
Wells waiting to be completed:
  • Today's (March, 2015) Director's Cut -- 825 wells -- an increase of 75
  • Previous Director's Cut -- 750, a decrease of 25
  • Red Queen: 115 completions per month to maintain 1.2 million bopd
Flaring:
  • decreased to 22%
  • Tioga gas plant increased to 80% of full capacity
  • expansion of gas gathering from south of Lake Sakakawea is still delayed
Gas capture statistics:
  • statewide: 78% (October 2014 target was 74%; January 2015 capture target is 77%)
  • FBIR: 79% (up from 77% last month)

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