The Director's Cut Has Been Posted -- December, 2018 Data -- A New All-Time High

Note: for those of you who "subscribe" to the Red Queen theory, North Dakota hit an all-time production record even though the number of producing well record remains below the all-time record.

Let's see if oilprice or Art Berman mention that North Dakota reports a new all-time record despite the fact that:

• number of producing wells has not increased
• there are still over 2,300 wells that could be producing and aren't -- North Dakota is drilling/completing about 2,300 wells every two years

Also,

• natural gas production has hit a new all-time high; and,
• operators have captured a record amount of natural gas; and,
• flaring still exceeds guidelines

The number is: 1,401,385 bopd -- a new all-time high.

Link here.

The usual disclaimer applies: this page is done very quickly. There will be factual and typographical errors. If this information is important to you, go to the source.

The Director's Cuts are tracked here.

The Director's Cut for the December, 2018, data has been posted. It will download as a PDF on your desktop.

Crude oil production:

• December, 2018: 1,401,385, a new all-time high
• November, 2018: 1,376,803 bopd
• October, 2018: hits a new all-time high, revised-- 1,392,369 bopd
• delta, bbls: +24,582
• delta, percent: an increase of 1.8% month-over-month

Producing wells:

• December, 2018: 15,351 -- all time high of 15,352 in October, 2018 -- but the "15,351" figure is a preliminary figure
• November, 2018: 15,237
• October, 2018: 15,352 -- a new all-time high

Natural gas production:

• December, 2018: 2,650,007 MCF/day -- a new all-time high 
• November, 2018: 2,521,128 MCF/day
• October, 2018: 2,561,988 MCF/day, revised slightly down from 2,562,465 MCF/day) -- an all-time high
• delta, cubic feet: +128,879 Mcf/d
• delta, percent: 5.1%

Permitting:

• January, 2019: 219 -- look at this increase month-over-month
• December, 2018: 92
• November, 2018: 116
• October, 2018: 183
• September, 2018: 113

Off line:

• DUCs: 823, down 134 from last report -- huge decrease (tracked here)
• inactive: 1,509, up 128 from last report -- wow, look at that jump in the number of inactive wells
• total: 2,332 (down slightly from 2,338 in the last report; but 2,332 wells is still way more than the total number of wells that will be drilled in North Dakota this year)

Flaring:

• statewide, captured: 1,995,853 Mcf/day -- daily rate (November, 2018); slightly less than last month
• statewide, capture: 81% -- at 2,136,797 MCF/day captured is a new all-time high
• FBIR Bakken: 80% -- it was 73% last month, so this was a huge improvement
• current goal: 88%

Pricing: