Wednesday, April 11, 2012

North Dakota Oil Production Hits a New All-Time High (Again)

Link here.
  • 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

Back-of-the-envelope nonsense:
  • 558,254 bbls per day x $83/bbl --> $50 million/day (rounded) into the economy.
  • An additional 12,000 bbls x $83 -->  $1 million at 12% --> an additional $120,000/day for the state? (rounded)

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