Folks who think they "know" the Bakken may want to spend some time on this one.
I would be curious if anyone can explain this.
Assuming I did all the math correctly and that's a huge assumption, but look at this:
The number of wells offline for operational reasons:
- May, 2022: 2,944
- April, 2022: 2,403
- so, in May, month-over-month, there was an increase of 541 wells taken off line
- those 541 wells represents an INCREASE of wells taken off line by almost 25%
- got that? 25% more wells were off line in May than in April. Twenty-five percent.
The number of producing wells:
- May, 2022: 16,953
- April, 2022: 16,896
- in other words, month-over-month, May-over-April, the number of producing wells increased by 57
- as a percentage, that was an increase of 0.3%. Not 30%. Not 3%. Not even one percent, but a third of one percent.
Now, take a look at this:
- oil production, month-over-month, May-over-April increased by 17%. Seventeen percent.
- natural gas production, month-over-month, May-over April increased by 14%. Fourteen percent.
Anyone want to hazard a guess.
I'll discuss it later.
It's not rocket science. Again, assuming I did the math correctly.
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