Director's Cut: June 19, 2012

Link here.

First time I've seen this comment in the Director's Cut: "The high liquids content makes gathering and processing of Bakken gas economic."

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

• Apr, 2012, oil: 609,371 bopd  (NEW all-time high)
• Mar, 2012, oil: 577,478 (revised upward)

• Apr, 2012, producing wells: 7,025 (NEW all-time high)
• Mar, 2012, producing wells: 6,932 (revised upward)

Permitting (all time high: 245, 2 Nov 10)

• Apr, 2012: 167 drilling
• Mar, 2012: 181

Pricing

• Apr, 2012: sweet crude,  $78.17
• Mar, 2012: sweet crude,  $76.29
• 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:

Crude oil take away via pipeline is almost 30% below production, but rail and truck transportation are adequate to keep up with near term production projections. Drilling permit activity is high, but well below record levels. The number of wells drilling on the reservation rose to 32. North Dakota leasing activity is mostly renewals and top leases in the Bakken. This statement noted for the first time last month, was repeated: the high liquids content makes gathering and processing of Bakken gas economic ($2.03/MCF).

EPA

Comments on BLM regulation of fracking. See linked document. 

Comments on fracking using diesel fuel. See linked document.