Wednesday, January 20, 2021

Rigs, DUCs, And Managing Assets -- The Bakken -- January 20, 2021

An earlier post has been updated to include a link to an EIA pdf that was inadvertently omitted. The link to a pdf: https://www.eia.gov/petroleum/drilling/pdf/January_2021_Supplement.pdf.

Screenshot of the title page (archived): 


 From the report:

After June 2020, crude oil production in North Dakota has been recovering, but it is still about 20% lower than the historical high in October 2019. 
Although the base production (production from wells more than one year old) has fully recovered, the swing production (production from wells less than a year old) has not because a lower rate of new well completions has resulted in fewer new wells.