Monday, February 14, 2022

Director's Cut, December, 2021, Data

Link here.

Wells off line for operational reasons.

Observations / Analysis

February 14, 2022, Grand Forks Herald: Bakken oil play now branded "mature" as industry appetites shrink in North Dakota. Link here

Original Post

Crude oil:

  • December, 2021: 1,137,466 bopd (preliminary)
  • November, 2021: 1,158,622 bopd (final)
  • delta, m/m: 21,156 bopd
  • delta, m/m: 1.8%
  • revised revenue forecast = 1.2 million --> 1.1 million -->1.0 million bopd

Natural gas:

  • December, 2021: 2,990,340 MCF/day
  • November, 2021: 3,074,414 MCF/day
  • delta, m/m: 84,074 MCF/day
  • delta, m/m: -2.7%

Crude oil price, North Dakota light sweet:

  • today: $87.50
  • December: $65.46
  • November: $72.03

North Dakota market estimate, crude oil price, ND light sweet:

  • Revised Revenue Forecast: $50
  • December, 2021: $66.88. Revised forecast: +34%
  • today, February 14, 2022: $90.30. Estimated revised forecast: +81%

Rig count:

  • today: 32 oil and gas
  • January: 31 oil and gas
  • December: 31 oil and gas
  • November: 32 oil and gas

Wells, permitted:

  • January, 2022: 39
  • December, 2021: 45
  • November, 2021: 50

Wells, completed:

  • January, 2022: 75 (preliminary)
  • December, 2021: 81 (revised)
  • November, 2021: 60 (final)

Wells, inactive:

  • January, 2022:
  • December, 2021: 1,975
  • November, 2021: 1,957

Wells, producing:

  • January, 2022:
  • December, 2021: 17,114
  • November, 17,245 (all-time high?)

Frack spreads:

  • from 2020, the number of frack spreads dropped 25 to one
  • most recently: frack spreads are said to number: 10

3 comments:

  1. The peak oilers will celebrate. Happens every winter. If you remind them of that, they'll just say winter is covering up a geologic decline. Then they eat crow in the spring. Lather, rinse, repeat. Paging Art Berman!

    ReplyDelete
    Replies
    1. Thank you. Agree completely. I thought it was a pretty good report for December.

      Delete
    2. Most noteworthy, it seems it the "revised forecast" re: income for the state.

      Delete

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