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
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!
ReplyDeleteThank you. Agree completely. I thought it was a pretty good report for December.
DeleteMost noteworthy, it seems it the "revised forecast" re: income for the state.
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