Thursday, May 13, 2010

Quiet Day in the Bakken

I'm traveling so I'm not following the Bakken as closely as I normally would but based on comments, news, etc., it seems to be rather quiet in the Bakken right now.

About the only interesting news is the supplement to the Friday, May 28, 2010, NDIC hearing docket: Whiting is requesting an order to establish fifteen (15) 1280-acre spacing units in the Sanish-Bakken Pool. Cool.

When it's quiet, it's a good time to check in on what others are saying. This is just a reminder that my "Western Union" page quickly links folks have a history of posting interesting comments regarding the North Dakota oil industry, which most simply call "the Bakken."

Speaking of such information being posted by others, "bradaz" posted the most recent production report for North Dakota, March, 2010: 
  • Mountrail produced 3.6 million bbls
  • McKenzie: 1.1 million bbls
  • Bowman: 1.0 million bbls (after dropping below the one million mark for several months)
  • The state total: 8.6 million bbls
  • Mercer and McLean Counties were the only two counties to have production drop from the previous month. 
"bradaz" also noted the "fraccing bottleneck" earlier this year.  I noted the same thing: I am not seeing the number of wells being reported commensurate with the number of active rigs in state (114 -- an all-time record). I continue to think the fracking bottleneck is the reason, and I'm beginning to think oil companies may not bring in more rigs until the bottleneck is resolved, unless they need the rigs to "save leases" about to expire.

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