Tuesday, August 20, 2019

Random Note: The NDIC Confidential List -- August 20, 2019

1,494 oil and / or natural gas wells on the confidential list in North Dakota. Link here.

If 850 wells are drilled/completed/brought into production each year in North Dakota, 1,494 wells on the confidential list representate about two years worth of inventory.

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FWIW

Oilprice has still not reported that North Dakota set a new crude oil and natural gas production record in June, 2019. The story does not fit their "oil peak" narrative. LOL. 
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10 comments:

  1. AnonymousAugust 20, 2019 at 12:40 PM

    Paging Snopes! We passed that "less than a half million bopd" a while ago. Get current.

    ReplyDelete
    Replies
    1. Bruce OksolAugust 20, 2019 at 2:28 PM

      I haven't checked Snopes on the Bakken in a long, long time. I would be surprised if their Bakken not has been updated.

      Delete
  2. freazinAugust 20, 2019 at 1:03 PM

    A lot of permits aren't confidential when taken out anymore so this number doesn't include those... But on the other hand, it looks like 533 of the ones on confidential have been drilled or at least spudded.

    ReplyDelete
    Replies
    1. Bruce OksolAugust 20, 2019 at 2:31 PM

      Thank you. I've heard that before that "a lot of permits aren't confidential when taken out any more" but I've never been given any examples of any wells that are never put on the confidential list. I will see if I can find any.

      It is my impression that operators in North Dakota don't waste time. Once a well is permitted, it seems 99% are spudded very, very quickly.

      Delete
  3. freazinAugust 20, 2019 at 2:43 PM

    I believe 36840 thru 36851 would be examples of ones not confidential but permitted recently.

    ReplyDelete
  4. AnonymousAugust 20, 2019 at 2:50 PM

    Traditionally permits are much more numerous than spuds because they are cheap and easy. As opposed to spuds, that cost real money. A substantial fraction don't get spudded and eventually lapse. So 99% is off and doesn't really convey the key concept properly. Permits > spuds. And not just by a percent.

    ReplyDelete
    Replies
    1. Bruce OksolAugust 20, 2019 at 4:15 PM

      I will update my 2016 data and then post that data.

      Delete
    2. Bruce OksolAugust 21, 2019 at 12:12 PM

      Status of permits issued in 2012: updated --

      http://themilliondollarway.blogspot.com/2019/08/random-look-at-status-of-permits-issued.html.

      Delete
  5. Bruce OksolAugust 20, 2019 at 3:36 PM

    Yes, that is true. But my hunch is that they will end up on the confidential list at some point. I will follow.

    ReplyDelete
  6. Bruce OksolAugust 29, 2019 at 7:07 AM

    Snapshot of permits to date in North Dakota:

    https://themilliondollarway.blogspot.com/2019/08/random-update-of-ndic-oil-gas-permits.html.

    For 2012:

    https://themilliondollarway.blogspot.com/2019/08/random-look-at-status-of-permits-issued.html

    ReplyDelete

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