March, 2019 Data -- North Dakota Sets New All-Time Natural Gas Production Record; Almost Sets All-Time Crude Oil Production Record; Total BOEPD Probably Set A New All-Time Record

Disclaimer: in a long note like this there will be factual and typographical errors. I often make simple errors in arithmetic. If this is important to you, go to the source.

Crude oil production in March, 2019: 1,390,138 bopd

• February, 2019: 1,335,591
• average daily increase, month-over-month: 54,547 bopd
• month-over-month increase: an increase of 4.1%
• all-time high was January, 2019: 1,403,808
• delta (January/March): - 13,670 bopd
• delta (January/March): - 0.97%

Natural gas production in March, 2019: March, 2019: 2,801,434 MCF/day

• this is a new all-time high; = 466,827 boepd
• 466,827 + 61,390,138 = 1,856,96 boepd (which is most likely a new all-time record high)
• this beats the "boepd" production in January, 2019

• February, 2019: 2,631,118 MCF/day 
• average daily increase, month-over-month: 170,316 MCF/day (28,381 boepd)
• month-over-increase: 6.4%

Producing wells:

• March, 2019: 15,353 -- well below the all-time high of 15,409 in January, 2019
• February, 2019: 15,154

Permitting:

• April: 129
• March: 133 
• February: 109

Crude price, ND light sweet/ WTI (per barrel)

• All-time high:  $136.29 / $145.29
• today: $50.50 / $61.78
• April: $52.50 / $63.58
• March: $48.00 / $55.01
• February: $46.30 / $55.01 

Rig count

• Today: 65
• April: 63
• March: 66
• February: 64 

Off-line:

• DUCs: 968 (up 74)
• inactive: 1,697 (up 30)

Gas capture (flaring):

• statewide: 80% captured
• FBIR Bakken: 70% captured (69% last month; 71% two months ago)
• goal; 88%

February, 2019, data here.

********************************

Off-Line

March, 2019:

• DUCs: 968, up 74 from last report
• inactive: 1,697, up 30 from last report
• total: 2,665 (up from 2,561 last week, about 1,000 more wells than will be drilled this calendar year)

February, 2019:

• DUCs: 894, up 27 from last report
• inactive: 1,5667, up a whopping 150 from last report
• total: 2,561 (up from 2,332 last week, about 800 more wells than will be drilled this calendar year)

********************************

EIA Dashboard: Bakken Region

Link: https://www.eia.gov/petroleum/drilling/pdf/bakken.pdf

Similar to Eagle Ford, except the Eagle Ford is much gassier; completely "swamps" the Permian.