Thursday, April 13, 2017

Surprise, Surprise! -- April 13, 2017

Once we look at the original oil fields in the Bakken, I think we will see what a huge surprise this was.

Note: from the Director's Cut, all the data suggested the number should come in lower:
  • the number of inactive wells is huge and barely moved
  • the number of DUCs barely moved
  • the number of completed wells is in the mid-50's; down from 200 a month during the boom and when even 150 completed wells early in the boom did not produce 750,000 bopd 
  • one also needs to remember all the wells taken off-line when a DUC is being completed; because of pad drilling and infill wells, it is not uncommon to see up to four wells coming off line for two to four months while a DUC or a new well is being fracked
  • anyone not surprised by this 1 million bopd production in the middle of a North Dakota winter is simply not paying attention (yes, I was surprised [very surprised], and I'm paying attention -- LOL)

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