Director's Cut -- March 21, 2012

Link here.

Production hits all-time high in North Dakota (again):

• Dec, 2011, oil: 535,048 bopd 
• Jan, 2012, oil: 546,453 (NEW all-time high)

• Dec, 2011, producing wells: 6,471
• Jan, 2012, producing wells: 6,617 (NEW all-time high)

Permitting

• Dec, 2011: 180
• Jan, 2012: 170 (all time high: 245, 2 Nov 10)

Pricing

• Jan, 2012: sweet crude, $88.09
• Dec, 2011: sweet crude, $88.75
• Nov, 2011: sweet crude, $88.54

Director's comments:

"The warm dry weather continues to result in increased hydraulic fracturing activity and increased production.....the idel well count is falling with just under 250 wells now waiting for fracturing services.

"Crude oil take away capacity via pipeline is well below production, but rail and truck transportation combined are keeping up with near term production projections."

EPA

"EPA regulation of hydraulic fracturing under the safe drinking water act through the diesel fuel provision in the 2005 energy policy act remains on hold with the proposed guidance document(s) still under review at OMB. Following that review a 60-day public comment period is planned.

From RMOJ, march 16, 2012:

1. Mountrail continues to lead oil production among ND counties; 1.3x more than McKenzie
2. Mountrail: 5.167 million bbls; 1,109 wells (1,175 capable)
3. McKenzie: 3.740 million bbls: 1,273 wells (1,460 capable)
4. Dunn: 2.594 million bbls: 716 wells (753 capable)
5. Williams: 2.459 million bbls: 828 wells (929 capable)

The state's two most prolific fields: Sanish and the Parshall