Wednesday, November 21, 2018

Just How Good Are The Bakken Wells? Production / Well / Day -- November 21, 2018

At this NDIC website, click on: "historical monthly oil production statistics." A pdf will download.

I wasn't sure if I would ever see this: a reversal in the downward trend of the average amount of oil being produced by North Dakota wells.

After a peak in the early days of the boom, the daily production per well in North Dakota began to fall, hitting an all-time (recent) low of 72 bbls/well/day. I was curious if/when it would level out and if it did level out, at what amount would it plateau?

Well, lookeee here --- after several years of steady decline, the average amount of oil being produced per each North Dakota well increased in the most recent reporting period.

How good are the Bakken wells? Prior to the boom, we were down to less than 40 bbls/well/day.

We hit a peak in the 7th year of the boom, 2014, at slightly more than 100 bbls/well/day.

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