Saturday, July 18, 2015

Random Note On Rig Count, Production In North Dakota, Texas -- July 18, 2015

I'm not familiar with this site: the Energent Group. It appears there is a fair amount of data available without a subscription. Note the well rig count links at the site, on the right, near the top.

Texas is producing about 70 - 80 million bbls of crude oil per month. North Dakota is producing about 35 million bbls of crude oil per month.

At least I think I am reading those links correctly.

Now go back to that Energent Group link above and then click on rig count.  If I am reading the graphic correctly, there appears to be around 400 rigs in the state of Texas. In North Dakota, we are running around 75 rigs. Baker Hughes says there were 366 rigs in Texas this past week, or thereabouts. It's hard to believe that there were 825 rigs in Texas in January of this year.

But I digress.

Maybe I'm misreading something or maybe I'm confusing something or counting "apples and oranges" but I see Texas producing about 80 million bbls of crude oil/month, and North Dakota is producing about 35 million bbls of crude oil/month.

Maybe folks are seeing where I'm going with this.

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