Another Record -- July, 2019, Data -- North Dakota Sets Second Consecutive Monthly Production Record

For the archives: this data was released on Monday, September 16, 2019, the first business day after the Iranian drone attack on Saudi Arabia taking out almost 6 million bopd production/export. Throughout the day, the price of WTI has been climbing slowly and is now trading up almost $8/bbl, up almost 15%, and trading at $62.78. Brent:

• up: 14.90%
• up: $8.97/bbl
• trading at: $69.19

Breaking news: Saudi Arabia shuts light oil pipeline to Bahrain  after attack. Reuters. Data points:

• Bahrain is now short upwards of 230,000 bopd
• Bahrain (Bapco) is working to secure vessels to bring in about 2 million bbls of Saudi crude as a result of the pipeline shutdown
• Bapco:
• shut down 22,000 bpd unit at its Sitrah refiney today (Monday)
• another 22,000 bpd unit also reduced run rates to 45%
• three fields identified as being compromised by attack on Abqaiq:
• Ghawar
• Shaybah
• Khurais

Tea leaves: it now appears Saudi Aramco will face weeks before the majority of supply from the giant Abqaiq plant is restored. The fact that the price of oil continues to climb throughout the day suggests that things are worse than first reported. "Alfalfa" apologist says Saudi Arabia is "simply re-tooling." LOL.

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The Director's Cut

Data For July, 2019 

North Dakota Oil and Natural Gas Production

Disclaimer: usual disclaimer applies. As usual, this is done very, very quickly. It is not proofread. There will be factual and typographical errors on this page. If this is important to you, go to the source.

A huge, huge "thank you" to Lynn Helms and his staff at the NDIC getting this information out in a timely and transparent manner. I am not aware of any other state that does such a good job providing such data. 

Link here.

Crude oil production:

• July, 2019, preliminary: 1,442,459 bopd -- new all-time high -- up 1.2% month-over-month
• June, 2019, final: 1.425,230 bopd (previous all-time high)

Gas production:

• July, 2019, preliminary: 2,947,892 MCF/day, also a new all-time high; up 2.2% month-over-month
• June, 2019, final: 2,885,293 MCF/day

BOE, July, 2019, preliminary:

• natural gas: 2,947,892 MCF/day = 491,233 boe
• crude oil: 1,442,459 bopd
• total boe, preliminary for July, 2019: 1.933692 boepd

Producing wells:

• July, 2019, preliminary: 15,943 (another new all-time high)
• June, 2019, 15,752

Permitting:

• August, 2019: 127
• July, 2019: 141
• June, 2019: 127

Rig count:

• Today: 62 (all-time high was 218 on 5/29/12)
• August: 62
• July: 57
• June: 63

New feature on the daily activity report: Fort Berthold Reservation partitioned out

Completions:

• July, 2019, preliminary: 114
• June, 2019, 102 (revised)
• May, 2019, 113 (final)

Gas capture:

• statewide, captured: 77%
• statewide, captured: 
• July, 2019: 2,276,856 MCF/day
• all time high was May, 2019: 2,287,761 MCF/day
• FBIR Bakken:
  July, 2019, captured: 68%

Off line, to end of June:

• DUCs: 930, down 53
• inactive well count: 1,675, up 122
• wells off line for operational reasons are tracked here; 

For break-even prices in the Bakken, see the screenshot from the Director's Cut a month ago (look at the breakeven price for oil in Mountrail County):