Enthusiasm Waning? Click Here!

If your enthusiasm for the Bakken is waning, click on:

• Crazy Numbers
• Stockyard Creek Update
• Three Forks Sanish Review 
• Newfield Reports Two More Great Wells 

I think stories coming out of the North Dakota Bakken are reaching a steady-state situation. Stories that once were exciting are now boring. But if the stories coming out are in a steady-state situation, I think the activity has yet to hits its peak.

The record for active rigs in North Dakota has reached a new high: 136 as of yesterday. I believe it was a NDIC spokesman who said that each of the current rigs is doing the work of eight (8) rigs of the past.

Activity in the Fort Berthold Indian Reservation was held up for two years due to federal bureaucracy but will catch up to the rest of the Bakken this year. The activity in the FBIR at the end of this year will be where it should have been two years ago had it not been for federal bureaucracy delays.

Takeaway capacity pretty much matches productivity.

The price of oil is stable, and at a pretty good price. My hunch is that companies are not maximizing oil production/well at this time. If oil heads to $100 I think we will see production from wells increase significantly.

I remain as excited as ever about the Bakken. I appreciate all the comments folks make, many of them providing insight to the North Dakota oil industry and some of them alerting me to activity I might otherwise miss.