New Director's Cut -- March 16, 2011 -- North Dakota, USA

Link here.

Production down in January, 2011, due to severe winter weather.

• December, 2010, oil: 344,064 bopd
• January, 2011, oil: 342,088 bopd
• Record oil production remains at 356,505 bopd
• December producing wells: 5,331
• January producing wells: 5,314 (all time high, 5,331 Dec 2010)

Permitting

• December, 2010: 143
• January, 2011: 142

Pricing

• December, 2010: sweet crude, $81
• January, 2011: sweet crude, $80

Director's comments:

The idle well count jumped to 760 in January 2011, [due to severe winter weather] the highest number since April 2002. We continue to have surplus crude take away capacity with pipeline, rail, and truck transportation all included. Shipment by rail is increasing and crude trucked to Canada is steady.

Rigs

• 20,000-foot capable rigs: over 90% utilization rates
• 7,000 or less-capable rigs: less than 50% utilization rates