Director's Cut: June 14, 2013, For April, 2013

Updates

June 17, 2013: Rigzone report.  The new record was set despite:

North Dakota operators faced difficulties with weather this spring. April 2013 was the coldest month on record with over 80 percent of state highways blocked in mid-April by heavy snow, and May 2013 was the wettest on record, said NDIC Department of Mineral Resources Director Lynn Helms in a statement.

June 14, 2013: Bloomberg's report. Included in the report:

Bakken oil priced on the spot market in Clearbrook, Minnesota, weakened by 25 cents yesterday to $2.75 a barrel above West Texas Intermediate crude in Cushing, Oklahoma, according to data compiled by Bloomberg.

About 75 percent of Bakken oil left North Dakota on trains in April, up from 71 percent in March, the state Pipeline Authority said. About 17 percent was shipped out via pipeline, down from 20 percent in March.

Original Post

The new Director's Cut is out.

April production hit another all-time high: 793,249 bopd.

April producing wells also at an all-time high: 8,758 wells.

May permitting dropped a bit (211) from March (218) but up from April (202).

Price of crude oil remains in the high 80's. US dollars.

It was nice to see Mr Helms acknowledge the challenges for the men and women in the field:

Operators have not been able to catch a break. April 2013 was the coldest on record, on April 15th over 80% of state highways were ‘no travel advised’ due to the heavy snow fall, and more recently May 2013 is the wettest on record. Uncertainty surrounding federal policies on taxation and hydraulic fracturing regulation continue to make investors nervous. Pressure on the federal budget has led to a budget proposal that eliminates deductions for intangible drilling costs and the depletion allowance.