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
February, 2014: 951,340 bopd (all-time high was 976,453 in 11/13) (a 1.7% increase)
January, 2014: 935,126 bopd
December, 2013: 926,687 bopd
Producing wells
February, 2014: 10,186 (new all-time high)
January, 2014: 10,114
December, 2013:10,040
Permits
March, 2014: 250 drilling (all time high was 370 in 10/2012)
February, 2014: 180 drilling
January, 2014: 253 drilling
December, 2013: 227 drilling
Pricing
Today: $87.00/bbl (all-time high was $136.29 7/3/2009)
March, 2014: $86.72/bbl
February, 2014: $86.98/bbl
January, 2014: $74.20/bbl
December, 2013: $73.47/bbl
Rig count
Today: 188
March, 2014: 193
February, 2014: 189
January, 2014: 188
December, 2013: 190
The rig count was down 12% from the high. McKenzie County remains most active.
Days from spud to initial production decreased 10 days to 122 in the previous director's report. In today's report, days from spud to initial production decreased another 8 days to 114 days.
There are still 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. Add to that 4 days with wind gusts too high for completion work and "progress is slow."
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 operating and should be at full capacity soon. 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 unchanged at 1.
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The Trainwreck of 2015
I've opined for some time now that all the chatter over how many folks actually enrolled in ObamaCare was just that -- chatter.
The proof will be in the pudding: earnings reports for 3Q14, 4Q14, and 1Q15, all quite some time from now.
However, Forbes is reporting we may see hints of what the 2015 premiums might be:
Beginning this week, when health insurance companies begin reporting their first quarter earnings, consumers and investors will begin to know whether — and possibly how much — premiums will rise in 2015 for plans sold on marketplaces under the Affordable Care Act.
Although health insurers are still tallying their new enrollment from last-minute signups to the plans they offered on government-run exchanges for this year, the Obama administration and state insurance directors are already asking for rates for next year, insurers tell Forbes. Consumers will begin to sign up for plans in the next open enrollment period that begins in November.My hunch remains:
- open season will be delayed until after the elections (public won't see premiums until open season)
- President Obama will cap 2015 premiums at 2014 levels