From the Director's Cut for May, 2019, flaring:
- with natural gas at $1.95 / mcf, the oil-to-gas price ratio at Watford City, ND, is 25 to 1
- statewide gas flared volume decreased 15,700 mcfpd month-over-month
- produced, April, 2019: 2,833,131 mcfpd
- produced, May, 2019: 87,471844 mcf for the month
- produced, May, 2019: 2,821,672 mcf/day
- 15,700 / 2,833,131 = 0.554% or about half a percent
- capture rate:
- statewide capture: 81%
- non-FBIR Bakken: 85%
- FBIR Bakken: 69%
- goals: a capture rate of 88%
I have no idea what the "new rules" regarding flaring are but if interested, there is a tag, flaring_new rules.
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Working On Her Multiplication Tables
Turned five years old about two weeks ago.
I listened to the webinar. Helms said he still thinks there will be growth in the summer and new records but a slower pace of growth than last year at 200,00 bopd/year. Companies are more cautious because of the lower prices (versus late 2018). And rigs are down 10% (which is not irrelevant.) Flaring self restriction hurting also.
ReplyDeleteThank you. Yes, I would be surprised if we didn't see some records broken later this summer, but I always have to remind myself, we are now in the manufacturing stage, not the boom stage, and operators are focused on other things. Thank you for taking time to listen to the webinar and provide an update.
DeleteInteresting Bakken podcast: https://twitter.com/RTDukes/status/1144670377597112321
ReplyDelete-talks about bigger completions
-relatively bullish on production (2-300,000 bopd higher). Seems too high to me.
-discusses growth of the core.
-gas oil ratio increasing but still nothing like gassier shales.
Thank you. The growth is not too high at all, assuming demand is there. The new wells are huge; operators have cut way back on the number of active rigs; and have also cut way back on frack spreads. At the beginning of the boom, well before "we" had all this new technology and better completion strategies, Bentek said the Bakken would produce 2.2 million bopd. Currently about 1.4, so another 200,000 bopd only gets us to 1.6, well below the Bentek 2.2 million bopd.
DeleteDisclaimer: I am inappropriately exuberant about the Bakken.
Good point. Yeah eventual 1.6-1.7 is easy to see. I was thinking, not this year. But you're right, he meant eventual.
ReplyDeleteI have often found that one of the reasons folks disagree about things is because their timelines are different.
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