Director's Cut -- June, 2018, Data -- Note NDIC Comment -- At Very End Of Post

Director's Cut -- June, 2018 Data

Comment to explain small drop in production:

Oil production dropped slightly in June due to ongoing gas capture challenges and transportation problems caused by rainy weather. 

Lynn Helms, director of the ND Department of Mineral Resources, said oil producers "tapped the breaks" in June, leading to a 21,000 barrel per day decrease in average production. More than half the reduction occurred on the Ft. Berthold Reservation where gas capture challenges are greatest.  

Helms said producers are mindful of the state mandate to capture 85% of the gas associated with oil production, and meetings have been occurring regularly with midstream operators to address the issue.

Link here.

See this post.

Disclaimer: the Director's Cut summary that I try to do every month is done very, very quickly. There will be typographical and/or factual errors. That's why I have the link. If this information is important to you, go to the link.

The number is: 1,225,510 bbls/day 

• Crude oil: 1,225,510 bopd
• Natural gas: 2,300,103 MCF/day = 383,287 boepd
• Total: 1,608,797 boepd
• Previous record (last month): 1,632,024 boepd
• Previous record (previous month): 1,598,948 boepd

Crude oil production:

• June, 2018: 1,225,510 bbls/day
• May, 2018:  1,246,355 bbls/day
• April, 2018: 1,225,391 bbls/day (preliminary) (all-time high was 1,227,483 bbls/day back in December, 2014)
• Delta, month-over-month: - 20,845 bbls; down 1.7% --

Natural gas production:

• June, 2018: 2,300,103 MCF/day (383,287 boepd) -- string of new records broken
• May, 2018: 2,315,391 MCF/day (385,834 boepd) -- a new all-time record
• April, 2018: 2,242,093 MCF/day (374,000 boepd) -- record at the time
• March, 2018: 2,119,751 MCF/day (353,000K boepd) -- record at the time

Well Completions:

• June, completions, preliminary: 63
• May, completions, preliminary: 42 (preliminary); actual -- 72 (final)
• April, completions, preliminary: 69 (preliminary); actual --> 86 (final)
• March completions: 75
• February completions: 74
• January completions: 65

DUCs + inactive wells:

• DUCs, waiting on completion: 993, up 38 from the end of May to the end of June
• inactive well count:  1,458, down 111 during same time period
• May, 2018, DUCs and inactive wells: 2,451
• see "DUC commentary," dated June 29, 2018 

Flaring:

• statewide: 83% (no change)
• statewide, Bakken: 84%
• FBIR Bakken: 79% -- federal; atrocious, compared to state
• ND goal: 88% capture; increasing to 91% beginning November 1, 2020

Comment of interest:

• Competition with the Permian and Anadarko shale oil plays for capital and workforce continue to limit drilling rig count.