Tuesday, July 18, 2017

Flashback -- Even The Analysts Can Get It Wrong -- July 18, 2017

Flashback. Remember this? From January 9, 2015:
From Rigzone, John Kemp: Bakken oil producers need $55 to keep production steady.
North Dakota needs an oil price of around $55 per barrel at the wellhead and a fleet of about 140 rigs to sustain production at the current level of 1.2 million barrels per day, the U.S. state's chief regulator told legislators on Thursday.
Down to 50 rigs and still producing more than 1 million bopd with 850 DUC and 1,500 producing wells taken off-line. And Bakken oil is selling for about $35/bbl.

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