Friday, August 11, 2017

Director's Cut -- June, 2017, Data

From The Director's Cut
June, 2017, Data

From Reuters: ND oil production slips about 1% in June. Or they could have said, ND production slipped less than 1% in June.
North Dakota's oil output slipped about 1 percent in June but should remain above 1 million barrels per day for the foreseeable future.

The optimistic outlook comes as the state's shale producers have found a way to survive low oil prices with new technology and process improvements.
North Dakota, the No. 2 U.S. oil-producing state, has largely taken a back seat in the past year as companies in the Permian Basin of Texas and New Mexico - the largest U.S. oilfield - battle with the Organization of the Petroleum Exporting Countries for global energy market dominance.
Link here.

The usual disclaimer applies.

Oil production
Producing wells:
Permitting
  • June, 2017: 109
  • May, 2017: 100
Oil price:
  • today: $38.25
  • July:$35.83
  • June: $34.72
  • May: $37.85
Rig count:
  • today: 57
  • July: 58
  • June: 55
  • May: 50
Wells not producing:
  • waiting on completion: pending; 865; up 35 from the end of May to the end of June
  • estimated inactive well count: 1,458; down 53 from the end of May to the end of June
Takeaway capacity:
  • June data: including CBR to coastal refineries is more than adequate
  • May data: including CBR to coastal refineries is more than adequate (major change in verbiage)
Natural gas capture:
  • statewide: 88%
  • FBIR: 79%
  • goal: 88% through October 31, 2020; then 91%
  • comment: the trend continues -- large amount of flaring on BLM land

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