The next Director's Cut is not expected to be released until early next week, on/about April 15, 2014.
Apparently, the director was excited to release some of the data early. I can see why.
February production surged: preliminary figures suggest February's crude oil production jumped 16,000 bopd to 951,340 bopd, compared to January, 2014, production of 935,126 bopd. This still doesn't match/exceed the all-time record set back in November (2013), but it was a nice jump considering February is the middle of winter in North Dakota.
(951,340 - 935,126)/935,126 = a 1.7% increase month-over-month in the middle of winter. Not bad.) By the way, what was the month-over-month increase last February (2013)? Five percent (5%).
A two percent increase each month for the next three months easily puts North Dakota production over one million bopd before the summer solstice.
It is highly unusual not to see at least a 2% increase in oil production month-over-month once the weather improves.
The story is being reported by The Bismarck Tribune.
I track production at the Director's Cuts here.
