Tuesday, November 17, 2020

Director's Cut Has Been Released -- November 17, 2020

The usual disclaimer applies: in a long note like this, done quickly, there will be content and typographical errors. If this is important to you, go to the source.

Director's Cut has been released. Link here

Crude oil production:

  • September, 2020: 1,221,667 bopd (preliminary)
  • August, 2020: 1,165,371 bopd (final)
  • a 4.8% increase month-over-month
  • an increase of almost 60,000 bopd month-over-month

Four counties in North Dakota produce as much oil as Libya.

Natural gas production:

  • September, 2020: 84,409,981 MCF (preliminary
    • captured: 93%
  • August, 2020: 81,692,742 MCF (final)
    • captured: 92%

Active rigs (oil and gas):

  • today: 12
  • October: 12 (NDIC says 14, but that probably included two non-oil-and-gas rigs)
  • September: 11
  • August: 12

So: number of rigs in September were less than the number of rigs in August, and yet production in September was significantly more than production in August. Hmmm.

Wells:

  • October:
    • permitted: 74
  • September:
    • permitted: 51
    • completed: 43 (preliminary)
    • inactive: 3,749
    • DUCs: 793
    • total off line for operational reasons: 4,542
    • producing: 15,377 (preliminary)
  • August:
    • permitted: 47
    • completed: 19 (revised)
    • inactive: 2,719
    • DUCs: 846
    • total off line for operational reasons: 3,565
    • producing: 15,149
  • July:
    • completed: 59 (final)

DUCs and inactive wells are tracked at this site.

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