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Thursday, October 12, 2017

August, 2017, Data Is Posted -- Director's Cut -- Total North Dakota Crude Oil Production Increased A Whopping 3.5% Month-Over-Month

Director's Cut for August, 2017, data.

Link here.

Story over at The Bismarck Tribune, data points:
  • The Bismark Tribune calls the increase slight; in raw numbers, the increase is slight but the percentage increase is quite remarkable; again, younger generation does not understand percentages
  • the natural gas capture statistic on BLM land has worsened significantly; it was remiss by the Tribune to not mention this
  • the Tribune did not mention that the number of DUCs and wells shut-in for various reasons totals almost 2,400 wells
The usual disclaimer applies. I do "this" quickly and there will be typographical and factual errors. If this is important to you, go to the source.

Oil production
  • August, 2017: 1,0084,690
  • July, 2017: 1,048,099
  • Delta: 36,591 bbl/day increase; +3.5%
  • compare with previous month -- last month (July, 2017), the delta: 14,653 bbl/day increase; +1.4%
Producing wells:
  • August, 2017: 14,080 (preliminary, if it holds, new all-time high)
  • July, 2017:13,992
  • Delta: an increase of 88 wells; 0.4% increase
  • compare with previous month --- last month (July, 2017), the delta: an increase of 55; 0.6%
Permitting
  • September, 2017: 104
  • August, 2017: 101
  • July, 2017: 146 (huge jump)
Oil price:
  • today: $41.50
  • September: $39.56
  • August: $37.93
  • July: $35.83
  • June: $34.72
Rig count:
  • today: 57
  • September: 56
  • August: 56
  • July: 58
  • June: 55
Wells not producing:
  • waiting on completion: 863; down 26 from the end of July to the end of August
  • estimated inactive well count: 1,498; up 20 from the end of July to the end of August
Takeaway capacity:
  • August data: including CBR to coastal refineries is more than adequate
  • July data: including CBR to coastal refineries is more than adequate
  • 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: 86% (trending down)
  • FBIR: 77% (huge disappointment; was 82% last month)
  • goal: 88% through October 31, 2020; then 91%
  • comment: the trend has worsened -- large amount of flaring on BLM land

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