Director's Cut Has Been Posted; North Dakota Crude Oil Production Data For December, 2017, Has Been Released; Crude Oil Production Decreased 1.3% Month-Over-Month; Producing Wells At An All-Time High; Natural Gas Production Slightly Below All-Time Record

Link here. NDIC site for calendar and links for past and current Director Cuts here.

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.

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The Data

Natural gas production: in April, 2017, it was reported that North Dakota produced a record amount of natural gas: in that month, natural gas production jumped 6% more than 1.8 billion cubic feet / day. What was North Dakota's natural gas production two months ago, November, 2017? Yup, another all-time high: 2.1 billion cubic feet / day. But for December, 2017, gas production dropped 0.7% month-over-month.

Oil production

• December, 2017: 1,181,319 bopd
• November, 2017: 1,196,976 bopd
• Delta:  a decrease of 15,657 bbls / day
• Delta: a decrease of 1.3%

Gas production: 2.081 bcf/day (all-time high was 2.096 bcf/day last month (November, 2017)

Producing wells:

• December, 2017: 14,293
• November, 2017: 14,338 (an all-time high)
• Delta: a decrease of 45 wells; about a 0.3% decrease

Permitting

• January, 2018: 106
• December, 2017: 86
• November, 2017: 119
• October, 2017: 147 
• September, 2017: 104
• August, 2017: 101
• July, 2017: 146 (huge jump)

Oil price (WTI), breakeven price statewide = $21

• Today: $49.25
• January, 2018: $54.75
• December, 2017: $49.56
• November: $49.75
• October: $43.56
• September: $39.56
• August: $37.93
• July: $35.83

Rig count:

• today: 57
• January, 2018: 56
• December: 52
• November: 54
• October: 56
• September: 56
• August: 56
• July: 58
• June: 55

Wells not producing, total: about 2,375 not producing; that exceeds the number of wells completed in any year during the boom

• waiting on completion: 877, down from 6 the end of November to the end of December
• estimated inactive well count: 1,469, down 23 from the end of November to the end of December

Takeaway capacity:

• December: takeaway capacity including CBR to coastal refineries is more than adequate 
• November: takeaway capacity including CBR to coastal refineries is more than adequate
• October data: including CBR to coastal refineries is more than adequate
• September data: including CBR to coastal refineries is more than adequate
• 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, has been getting "worse" and FBIR was a major issue; the trend has improved; it looks like ND has "turned the corner" on this issue

• statewide: 87% (previous -- 86% [trend has improved)
• FBIR: 80% (much improved; previous -- 75%)
• goal: 88% through October 31, 2020; then 91%
• comment: October, 2017, was terrible; it's getting better on FBIR