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Wednesday, April 11, 2012

Director's Cut: April 11, 2012

Link here.

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


  • Feb, 2012, oil: 558,254 bopd  (NEW all-time high)
  • Jan, 2012, oil: 546,453
  • Feb, 2012, producing wells: 6,726 (NEW all-time high)
  • Jan, 2012, producing wells: 6,624
Permitting
  • Feb, 2012: 181 (all time high: 245, 2 Nov 10)
  • Jan, 2012: 170
Pricing
  • Feb, 2012: sweet crude, $83.26
  • 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 idle well count is falling with just under 240 wells now waiting for fracturing services. [Last month it was 250 wells; not falling very fast.]

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.

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