Sunday, February 21, 2016

Random Update Of Field Production For East Fork Oil Field In The North Dakota Bakken, October - December, 2015

Crude oil production increase was not quite as dramatic in East Fork oil field as in the Pershing oil field over the past three months, but it was enough to catch my attention. Note the percentage changes, month-over-month: November-over-October, 17%; and, December-over-November,  24%).

Field
Pool
October 2015 Production
Oct Wells
Oct Oil/Well/Month
November 2015 Production
Nov Wells
Nov Oil/Well/Month
Percent Change
December 2015 Production
Dec Wells
Dec  Oil/Well/Month
Percent Change
East Fork
Bakken
342,754
84
4,080
400,812
92
4,357
16.94
496,022
96
5,167
23.75%


Part of the reason, of course, was the increase in the number of producing wells, from 84 in October to 92 in November to 96 in December. Note the increase in production per well, from around 4,000 bbls/well/month in October, to over 5,000 bbls/well/month in December. It wasn't just the increase in the number of wells, but also the increase in productivity from the wells.

The East Fork oil field is tracked here. It appears that the new wells coming on line were permitted back in 2014. 

Again, whenever I work with numbers, and whenever I transcribe long lists of numbers I am prone to making mistakes. I have triple-checked the numbers above so I think they are correct.

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