ND Oil Production Up Month/Month And Year/Year; Lags New Mexico; Director's Cut Released/Posted -- July 20, 2021

The increase month/month and year/year is particularly impressive given the fact the the active rig count remains very, very low and, in the big scheme of things, very few "completed" DUCs are being reported. 

Anecdotally, what explains the strong production numbers: Many operators are bringing wells back on line that had been shut in for the past year. These were otherwise good producing wells, actively producing wells, some of them producing for several years before being taken off line during 2020. These were not DUCs, but otherwise "inactive" wells. And unlike stripper wells in the past, these were, comparatively speaking, very, very good wells. 

Folks talk about active rigs, and more recently, DUCs, but very little attention is given to "inactive" wells and why they are inactive.

Director's Cut scheduled to be released today. Link here. Tag here.

Re-posting: link here.

• March, 2021: New Mexico jumps to second place; North Dakota falls to 3rd place
• New Mexico: March, 2021 -- 1.154838 million bopd
• North Dakota:
• May, 2021: 1,127,517
• March, 2021: 1,108,441

But from twitter:

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Director's Cut -- May, 2021 -- Data

Director's Cut: posted, link here. The Director's Cuts are tracked here.

The usual disclaimer applies: in a long note like this, done quickly, there will be content and typographical errors. If this is important to you, go to the source.  

May, 2021, data. This is all preliminary data for May, 2021. When the final number is tallied (next month), it will reveal a slight increase in production numbers):

Crude price (ND light sweet):

• today: $58.50
• June, 2021: $63.62
  
• May, 2021: $58.28
  
• April, 2021: $55.35
  
• March, 2021: $54.38
  
• February, 2021: $49.13
  
• January, 2021: $41.77
• December, 2020: $37.70
• November, 2020: 33.22

Crude oil production:

• May, 2021: 1,127,517
• April, 2021: 1,123,166
  
• March, 2021: 1,108,441 (preliminary)
  
• February, 2021: 1,083,554 bopd (final)
  
• January, 2021: 1,147,374 (preliminary); 1,147,377 (final)
  
• December: 1,192,145 (preliminary); 1,191,429 bopd (final)
  
• November: 1,224,540 (preliminary); 1,227,138 bopd (final)
  
• October: 1,222,871 bopd (preliminary); 1,231,048 bopd (final)
  
• delta: + 4,351 bopd
  
• delta: + 0.387%

Natural gas production:

• May, 2021: 2,981,017 MCF / day
  
• April, 2021: 2,949,005 MCF / day
  
• March, 2021: 2,878,598, (preliminary)
  
• February, 2021: 2,703,948 MCF (preliminary); 2,704,840 MCF / day (final)
  
• January, 2021: 2,847,719 MCF (preliminary); 2,849,283 MCF / day (final)
  
• December: 2,892,908 (preliminary); 2,888,626 MCF / day (final)
  
• November: 2,887,402 (preliminary); 2,890,376 MCF/day (final)
  
• October: 2,873,654 MCF/day (preliminary); 2,881,717 (final)
• delta: +32,012 MCF / day 
  
• delta: +1.1%
  

Natural gas capture:

• May, 2021: 92%
  
• April, 2021: 94%
  
• March, 2021:  94%
  
• February, 2021: 92%
  
• January, 2021: 94%
• December, 94%
• November, 93%
• October, 93%

Rig count:

• today: 23 (may include non-O&G rigs)
  
• June, 2021: 20
  
• May, 2021: 19
  
• April, 2021: 15
  
• March, 2021: 15
  
• February, 2021: 15 (but may include CS and SWD)
• January: 12 (but may include CS and SWD)
• December: 14 (but may include CS and SWD)
• October: 14 (ditto)

Wells:

• Permitted:
• June: 75
• May: 46
• April: 51

• Completed:
• June: 47 (preliminary)
• May: 41 (revised)
• April: 31 (final)
  

• Inactive:
• June:
• May: 2,348
• April: 2,088
  

• Producing:
• June:
• May: 16,612 (preliminary -- NEW all-time high; 16,612 in April, 2021 [sic])
• April: 16,395