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Friday, August 13, 2021

June, 2021 -- Production Data -- Director's Cut Posted

Updates

August 15, 2021, link here:

Original Post 

Link here. PDF will download. 

Disclaimer: the usual disclaimers apply. If this is important to you, go to the source.

Past "Director's Cuts" are tracked here.

NOTE:

  • the price of North Dakota light sweet
  • all-time record for number of producing wells in North Dakota
  • the huge drop in the number of inactive wells
  • the huge drop in drilling permits in July; the jump in drilling permits in June, 2021
  • gas capture statewide vs FBIR
  • seismic activity has stopped: zero active surveys; zero recording, four suspended; zero permitted

Comments:

  • production increases slightly m/m (not statistically significant), but,
  • rigs have not increased much; the rig count has remained pretty much steady over the past few months;
  • DUCs unchanged m/m, and yet
  • production increases slightly m/m (not statistically significant)
  • production continues to exceed the revenue forecast

Oil production:

  • June, 2021: 1,128,185 bopd (preliminary)
  • May, 2021: 1,128,043 bopd (final)
  • delta: irrelevant month/month

Revised revenue forecast

  • 1.2 million bbls/day --> 1.1 million bopd --> 1.0 million bbls/day

Price: North Dakota light sweet:

  • today: $62.52
  • May, 2021: $58.28
  • June, 2021: $63.62
  • July, 2021: $58.50

Natural gas production:

  • June, 2021: 2,982,583 MCF/day
  • May, 2021: 2,981,592 MCF/day

Rig count (may include SWD rigs):

  • today: 22
  • May, 2021: 19
  • June, 2021: 20
  • July, 2021: 23

Permitted:

  • July, 2021: 40
  • June, 2021: 75
  • May, 2021: 46

Completed:

  • June, 2021: 47 (revised)
  • May, 2021: 41 (final)

Inactive:

  • June, 2021: 1,839
  • May, 2021: 2,348
  • delta:  509 net wells brought back on line m/m
  • delta: 22% net increase

DUCs:

  • June, 2021: 680
  • May, 2021: 677
  • m/m change: irrelevant

Producing:

  • June, 2021: 16,825 (preliminary -- this is a new all-time high)
  • May, 2021: 16,623 

Inactive wells, producing wells, and DUCs tracked here

Gas capture:

  • statewide: 92%
  • statewide Bakken: 92%
  • FBIR Bakken: 89%
  • gas capture goals: 91%

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