Updates
August 15, 2021, link here:
Original Post
Link here. PDF will download.
Disclaimer: the usual disclaimers apply. If this is important to you, go to the source.
Past "Director's Cuts" are tracked here.
NOTE:
- the price of North Dakota light sweet
- all-time record for number of producing wells in North Dakota
- the huge drop in the number of inactive wells
- the huge drop in drilling permits in July; the jump in drilling permits in June, 2021
- gas capture statewide vs FBIR
- seismic activity has stopped: zero active surveys; zero recording, four suspended; zero permitted
Comments:
- production increases slightly m/m (not statistically significant), but,
- rigs have not increased much; the rig count has remained pretty much steady over the past few months;
- DUCs unchanged m/m, and yet
- production increases slightly m/m (not statistically significant)
- production continues to exceed the revenue forecast
Oil production:
- June, 2021: 1,128,185 bopd (preliminary)
- May, 2021: 1,128,043 bopd (final)
- delta: irrelevant month/month
Revised revenue forecast:
- 1.2 million bbls/day --> 1.1 million bopd --> 1.0 million bbls/day
Price: North Dakota light sweet:
- today: $62.52
- May, 2021: $58.28
- June, 2021: $63.62
- July, 2021: $58.50
Natural gas production:
- June, 2021: 2,982,583 MCF/day
- May, 2021: 2,981,592 MCF/day
Rig count (may include SWD rigs):
- today: 22
- May, 2021: 19
- June, 2021: 20
- July, 2021: 23
Permitted:
- July, 2021: 40
- June, 2021: 75
- May, 2021: 46
Completed:
- June, 2021: 47 (revised)
- May, 2021: 41 (final)
Inactive:
- June, 2021: 1,839
- May, 2021: 2,348
- delta: 509 net wells brought back on line m/m
- delta: 22% net increase
DUCs:
- June, 2021: 680
- May, 2021: 677
- m/m change: irrelevant
Producing:
- June, 2021: 16,825 (preliminary -- this is a new all-time high)
- May, 2021: 16,623
Inactive wells, producing wells, and DUCs tracked here.
Gas capture:
- statewide: 92%
- statewide Bakken: 92%
- FBIR Bakken: 89%
- gas capture goals: 91%
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