Monday, July 14, 2014

Director's Cut; Data For May, 2014; Another New Production Record; Production Increased By Almost 4% Month-Over-Month

The July Director's Cut is out.

Bakken oil hype

Oil:
  • May, 2014: 1,039,635 bopd (preliminary; new all-time high)
  • April, 2014: 1,003,256 bopd (revised; first month to go over 1 million bopd) 
  • April, 2014: 1,001,149 bopd (original)
  • delta: 36,379 bopd
  • 36,379 / 1,003,256 = 3.6% (fairly significant)

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:
May, 2014:  10,892 (new all-time high)
April, 2014: 10,665
Permitting:
  • May, 2014: 234
  • April, 2014: 233
  • All-time high was 370 in 10/2012
Pricing:
  • Today, 2014: $84.50
  • June, 2014: $90.02
  • May, 2014: $88.31
  • April, 2014: $85.68
  • March, 2014: $86.72
  • February, 2014: $86.89 
Rig count:
  • Today: 191 (all time high was 218 on 5/29/2012)
  • June, 2014: 190
  • May, 2014: 189
  • April, 2014: 188
  • March, 2014: 193
Director's comments:
Number of wells waiting completion: 610, pretty much unchanged. US natural gas storage is now 28% below the five-year average indicating increasing prices in the foreseeable future. The percentage of natural gas flared dropped to 28% as the new Tioga gas plant increased to full capacity. The historical high was 36% in 09/2011.

2 comments:

  1. It won't take long but the next mile-marker should be oil just from the Bakken-TFS formation. They are tracking that on the report also. Good times.

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