Director's Cut Dated November 12, 2010 -- North Dakota, USA

The NDIC Director has just published his most recent Director's Cut.

Highlights for archival purposes:

Producing Wells: 

• September: 5,197 (all-time high)
• August: 5,115

Oil Produced:

• September: 341,384 bbls (all-time high) (3.8% increase from previous month)
• August: 328,873 
• If "we" were to continue at 4% increase month-over-month, one year from now, North Dakota would produce 546,567 bbls/month in that 12th month from now

Average Price Sweet Crude

• September: $67.95
• August: $69.07
• November 12, 2010: $79.25
• All-time high: $136.29, July 3, 2008)

Williston Basin crude take away capacity remains above production; however, recall that about 6% is trucked north to Canada; and, about 10% is shipped by rail to Cushing.

There are three additional pipeline and rail projects in the review or engineering stages; two that have begun construction; and, one that has extended their open season (taking bids to transport oil).

The delta between North Dakota Sweet (posted) and West Texas Intermediate (posted) has increased slightly, to just over 10 percent.

Despite all the new pipeline laid, natural gas production continues to outstrip infrastructure, and flaring (which I -- this blog's author -- believe is highest in the nation) is still well above normal.