Fast forward: gasoline is now below $2.00/gallon in some places.
The incredible Bakken: Think about this:
- 60 rigs -- that's all: 60 rigs
- two counties, maybe three -- but that's about it
- shortage of roughnecks
- limited number of frack spreads
- takeaway issues
- the winters
- courts being asked to shut down pipelines; in many cases, they do
- price volatility
- 2,000+ wells drilled to depth and not producing for operational reasons; that's more wells than will be drilled this year in North Dakota
- 6,000+ wells that need to be re-fracked
1.3 million bopd.
Remember when there were 200+ rigs in the Bakken and less than 400,000 bopd.
x $50 = $65 million / day coming out of two counties, maybe three.
And the Permian? So much bigger.
You never can tell (if you're trying to remember where you might have heard this song: Pulp Fiction).