Tuesday, May 13, 2014

Director's Cut Is Out: Huge Shout-Out To Roughnecks And Truckers -- North Dakota May Have A New All-Time Production Record Despite That Historically Tough Winter; Indications: North Dakota Exceeded One Million BOPD In April, 2014; 635 Wells Waiting To Be Completed

Link here.

March, 2014: 977,051 bopd (preliminary; if it holds, a new all-time record)
February, 2014: 952,055
  • that's almost a difference of 25,000 bbls (24,996 to be exact)
  • the increase represents almost a 3% increase (2.626% to be exact)
  • the delta between 1 million and 977,051 = 22,949
Disclaimer: this update is always done in haste; typographical errors are likely. This is for my use only. Others should go to the source

Producing wells:
March, 2014: 10,457 (preliminary; new all-time high)
February, 2014: 10,199
March, 2014: 250
February, 2014: 180
All time high was 370 in 10/2012
Today, 2014: $87.00 
April, 2014: $85.68
March, 2014: $86.72
February, 2014: $86.89
Rig count:
Today: 192
April, 2014: 188
March, 2014: 193
February, 2014: 189
Director's comments:
The drilling rig count was up slightly but well completions were up sharply from 70 to 200. There are still about 50 wells shut in due to Tioga gas plant conversion in an attempt to minimize flaring. In March, 2 -3 days at the beginning with temperatures well below zero, and then later 7 - 12 days with winds too strong for completion work, and then 8 inches of snow on the last day of the month.

About 635 wells waiting to be completed, a decrease of 15 from previous month.
Wells waiting to be completed: some wells are waiting to be completed due to weather-related issues. I don't think there is any shortage of frack spreads right now. The big reason for wells waiting to be completed, I think, is due to pad drilling. Generally, operators wait until all wells on a pad are drilled to total depth before they frack all the wells. There are exceptions. 

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