Production
- Nov Oil: 356,505 bopd
- Dec Oil: 343,867
- Nov Wells: 5,331
- Dec Wells: 5,331 (no change -- ties record)
- Nov Permits: 245 (record)
- Dec Permits: 134
- Nov rig count: 158
- Dec rig count: 163
- Jan rig count: 163
- 95 percent of drilling continues to target the Bakken and Three Forks formation
- Oil production was seriously impacted by severe weather with numerous wells shut in; 677 idle wells, the most shut in since February, 2009, and June, 2002
- "It has been reported that well over one (1) million barrels has been stranded on producing locations periodically."
- Takeaway capacity exceeds production; additional projects should provide adequate capacity until 2015
For those following the news, the impact of severe weather on production was not unexpected.
Bruce, The vast majority of readers that are not located in Nd or are local folks would understand the severe weather of this country. If you go to the ND road travel map there are 12 different locations in ND that indicate the road will be blocked if anymore Snow/blowing weather occur.. i would bet the cost to the oil production is over 5 % ..
ReplyDeleteThe weather map graphic that shows blocked roads, ice-covered roads, roads with drifting snow, etc., can be found at this link:
ReplyDeletehttp://www.dot.nd.gov/travel-info/
It is a dynamic map and will change daily.
It is quite incredible the weather North Dakota is experiencing -- this, the 5th winter since the release of Al Gore's "An Inconvenient Truth."
This is one of the worse winters on record across the nation.