North Dakota crude oil and natural gas production for October, 2019: there will be two headline stories this month based on this:NASDAQ on pace for longest winning streak since 2017.
- first: production bounced back very, very nicely after a horrendous September due to flooding, too much rain;
- second: flaring in the reservation; not only is it worse than the state in general, but it is much worse, and on top of that, the trend is worsening, not getting better --
natural gas capture:A third, albeit a minor story: North Dakota officially produced more than 3 billion cubic feet per day of natural gas. That milestone appeared to have been broken in September, 2019, based on preliminary information, but it was revised downward, slightly, just less than 3 billion cfpd. This month, finally, a new milestone; 3 billion cubic feet per day, or approximately 500,000 boepd.
- statewide, captured: 82% (81% reported last month)
- statewide, captured:
- October, 2019: 2,524,405 MCF/day (preliminary)
- September, 2019: 2,429,487 MCF/day
- previous all time high was May, 2019: 2,287,761 MCF/day
- FBIR Bakken:
October, 2019, captured: 70% (was 79% in September) (75% reported two months ago, August, 2019)
A fourth headline story that no one will report: North Dakota continues to hit new production records despite fewer and fewer rigs. Change in monthly production has much more to do with weather in North Dakota than with the rig count.
Friday, December 20, 2019
Random Thoughts Regarding North Dakota's October Production, Director's Cut -- December 20, 2019
Previously posted:
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The headline should be 1.5, 1.5, 1.5. And occasionally 3 (BCF). How about those apples, Art Berman?
ReplyDeleteGreat observation. Thank you. If I get caught up, I may change the headline/subject line. Thank you. Bruce.
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