Active rigs:
| 1/22/2017 | 01/22/2016 | 01/22/2015 | 01/22/2014 | 01/22/2013 |
Active Rigs | 38 | 47 | 159 | 187 | 188 |
January, 2010
January, 2011
January, 2012
January 22, 2013
January 22, 2014
January 22, 2015
January 22, 2016
January 22, 2017
- 38 rigs
- 1,100,000 bopd (estimate)
Comments: early on in the Bakken, I remember all that talk about the Red Queen effect and the decline rate of the Bakken. Maybe, maybe not. But with 47 rigs, North Dakota is producing the same amount of crude oil on a daily basis that it did with 200 rigs. In addition, take into consideration that crude oil production is front-loaded on Bakken wells; there are approximately 900 DUCs (wells that have been drilled to depth, not fracked, and could be brought on line in one to two weeks); and, another 1,200 inactive wells (completed wells that have been shut-in due to low commodity prices and other reasons). Unfettered, the Williston Basin could produce 2 million bopd with less than 50 rigs.
There are rumors that we could see 100 active rigs in North Dakota by summer, 2017, but that begs the question: why?
Saudi Arabia is crowing that OPEC and Russia have taken about 1.5 million bbls of oil off the global market per day. The Bakken alone could replace that if necessary. And then we have three more plays: the Permian, the Eagle Ford, and the Trump.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.