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Saturday, November 16, 2013

CarpeDiem Provides Update Of Bakken Production In North Dakota

Link here to Carpe Diem.

Two data points from the linked article:
  • The Bakken region in western North Dakota produced more than 800,000 bpd in September for the third straight month, and established a new all-time monthly output record of 867,242 bpd, which represented a new record-high 93.0% of the state’s monthly oil production. In contrast, the Bakken region produced less than 9% of the state’s oil output at the beginning of 2007, before breakthrough drilling techniques (hydraulic fracturing and horizontal drilling) were able to tap into a bonanza of unconventional oil in the shale-rich areas of western North Dakota.
  • North Dakota’s natural gas output in September increased 33% from a year earlier to exceed 30 billion cubic feet of production for the third month in a row, and established a new monthly record high at 31.81 billion cubic feet. Amazingly, natural gas output in the Peace Garden state has more doubled in less than two years, from 15.78 billion cubic feet in November of 2011 to more than 31 billion cubic feet in September this year, which represents an increase of 101.6% in just 22 months.

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