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%