- 24156, drl, KOG, Koala 16-32-29-2H, Poe, no production data,
- 24478, drl, Statoil, M. Olson 20-29 4H, Painted Woods, no production data,
- 25011, 1,533, WPX, FBIR 13-24HZ, Van Hook, t3/14; cum 66K 5/14;
- 26576, 1,812, MRO, Flicka USA 13-16TFH, Four Bears, 16K first month; t4/14; cum 37K 5/14;
- 26857, drl, Hess, EN-State D-154-93-2635H-7, Robinson Lake, no production data,
- 26978, drl, Gadeco, Alexander 26-35 4H, Epping, no production data,
- 27063, drl, Hess, EN-KMJ Uran-154-93-2734H-9, Robinson Lake, no production data,
| Date | Oil Runs | MCF Sold |
|---|---|---|
| 5-2014 | 20724 | 10226 |
| 4-2014 | 25835 | 9947 |
| 3-2014 | 18742 | 6028 |
*************************************
Active rigs:| 7/1/2014 | 07/01/2013 | 07/01/2012 | 07/01/2011 | 07/01/2010 | |
|---|---|---|---|---|---|
| Active Rigs | 189 | 192 | 215 | 172 | 129 |
Cut flaring or else:
Seven (7) new permits --
- North Dakota regulators tell crude oil explorers to cut the flaring of natural gas or face limits on the amount of oil they can pump from the Bakken shale formation.
- The state's crude output has surpassed 1M bbl/day, behind only Texas, but while Texas captures all but 1% of the natural gas produced, North Dakota burns 30% of its output as waste as the rate of production has outstripped companies' ability to capture gas through pipeline connections at the source.
- The North Dakota Industrial Commission is aiming for a 26% reduction in gas flaring statewide by Q4 of this year and another 23% by Q1 2015.
- Operators: Hess (4), OXY USA (3)
- Fields: Hawkeye (McKenzie), Cabernet (Dunn), Fayette (Dunn)
- Comments:
********************************
Clr has a new July pdf. presentation. It is all mostly the same. The slide showing future growth has been updated some, new colors, and a comparison of Bentek study, 200 rigs, and 250 rigs. The cool Thing is that they are showing nothing but growth all the way into 2024. Just imagine if the tax structure was tweaked just a little bit to make this the premier IRR field, then imagine 300, or 350 rigs. Naysayers need to find a new topic.
ReplyDeleteAgree completely.
DeleteI think the Bakken is not quite there, but almost there as a "mature" field in which the operators pretty much have the Bakken (not including the Three Forks) completely delineated, and will now develop the Bakken at their pace depending on their particular strategies and business plans.
New flaring guidelines will offer new opportunities for natural gas gathering and processing companies. It certainly seems the infrastructure in the Bakken (about four counties in western North Dakota) is optimized for about 185 active rigs.
As I've mentioned before, older rigs are being replaced by bigger, better, newer rigs and fewer rigs does not necessarily mean less production. I track the number of rigs mostly because it provides an indication of the level of activity, and each rig represents a lot of jobs.