Link here.
Production hits (another) all-time high in North Dakota:
- May, 2011, oil: 361,407 bopd
- June, 2011, oil: 384,678 bopd (all time high) (6.4% increase m-o-m)
- May producing wells: 5,579
- June producing wells: 5,558
- May, 2011: 154 drilling
- June, 2011: 138 drilling
- May, 2011: sweet crude, $94.69
- June, 2011: sweet crude, $91.69
- Back of envelope calculations: April, 351,183 x 103.91 = $36.491 million; May 361,407 x 94.69 =$34.221344 million; June, 384,678 x $91.69 = $35.271 million
Director's comments:
The summer surge is picking up steam. But, idle well count sured to over 900 wells in June. Crude take away capacity is more than adequate. As fall approaches and the rig count rises, permit activity is expected to increase so locations can be built prior to winter weather.Rigs
- 20,000-foot capable rigs: over 90% utilization rates
- 7,000 or less-capable rigs: about 50% utilization rates
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