Production hits all-time high in North Dakota:
- April, 2011, oil: 351,183 bopd
- May, 2011, oil: 361,407 bopd (all-time high)
- April producing wells: 5,536
- May producing wells: 5,570 (all-time high)
- April, 2011: 125 (all time high: 245, 2 Nov 10)
- May, 2011: 154
- April, 2011: sweet crude, $103.91
- May, 2011: sweet crude, $94.69
- Back of envelope calculations: April, 351,183 x 103.91 = $36.491 million; May 361,407 x 94.69 =$34.221344 million.
Director's comments:
The summer surge has begun. There continues to be surplus crude take away capacity with pipeline, rail and truck all included. Leasing remains focused on renewals and top leases in the Bakken - Three Forks, but there is significant activity south of Dickinson to the South Dakota border. Flaring hit a new record, 29%. Significant new natural gas plant and gathering pipeline expansions have been announced but have to wait for drier weather.Rigs
- 20,000-foot capable rigs: over 90% utilization rates
- 7,000 or less-capable rigs: less than 50% utilization rates