Thursday, March 13, 2014

Director's Cut For January, 2014 Data -- All-Time High For Producing Wells; Oil Production Exceeds Previous Month's Production; Only One Actively Drilling Well On Federal Grasslands In North Dakota; Flaring Remains Unchanged; Tioga Gas Plant Should Come Back On Line At End Of This Month

Disclaimer: this update is always done in haste; typographical errors are likely. This is for my use only. Others should go to the source

Oil
January, 2014: 933,128 bopd (all-time high was 976,453 in 11/13) (less than 1% increase)
December, 2013: 926,687 bopd

Producing wells
January, 2014: 10,100 (new all-time high)
December, 2013:10,040

Permits
February, 2014: 180 drilling (all time high was 370 in 10/2012)
January, 2014: 253 drilling
December, 2013: 227 drilling 

Pricing
Today: $84.00/bbl
February, 2014: $86.98/bbl
January, 2014: $74.20/bbl
December, 2013: $73.47/bbl

Rig count
Today: 191
February, 2014: 189
January, 2014: 188
December, 2013: 190

Drilling count was down December to January and the number of well completions dropped from 119 to 60.

Days from spud to initial production decreased 10 days to 122.  

There are over 100 wells shut in for the Tioga gas plant conversion in an attempt to minimize flaring, but the biggest production impact story continues to be the weather.

The percentage of gas flared is unchanged at 36% largely due to temporary shut-down of the Tioga gas plant on December 26th for expansion. The new plant is now planned to begin operating by the end of March. This matches the historical high of 36% in 9/2011.

The number of rigs actively drilling on federal surface in the Dakota Prairie Grasslands is down to 1.

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