Friday, July 14, 2023

Director's Cut, May, 2023, Data And Daily Activity Report -- July 14, 2023

Locator: 45137B.

Director's Cut, May data, released

Director's Cuts are tracked here

Disclaimer applies. 

DUCs and wells off-line for operational reasons tracked here.

Producing wells:

  • new all-time high, this month, May, 2023: 17,913 producing wells.
  • also, see story in Minot Daily News.
    • the North Dakota Department of Mineral Resources reported the state had 17,913 (preliminary number) producing wells in May.
      • the previous all-time high was 17,791 producing wells in October 2022. 
      • of that total number, 15,622 or 87% are unconventional Bakken/Three Forks wells and 2,291 or 13% are produced from legacy conventional pools.

Highlights.

  • active rigs
    • 36: due to workforce; mergers, acquisitions
    • expected to the mid-forties with gradual increase over next two years;
  • crude oil production:
    • May, 2023: 1,133,530 bpod
    • April, 2023: 1,135,763 bopd
  • crude price:
    • today: $71.25
    • May, 2023; $65.82
    • April, 2023: 75.23
  • natural gas: 
    • May, 2023: 3,156,374, MCF/day
    • April, 2023: 3,119,451 MCF/day
  • wells permitted:
    • June: 85
    • May: 63
    • April: 89
  • DUCs:
    • May: 459
    • April: 458
  • inactive:
    • May: 1,779
    • April, 1,899
  • completed:
    • June: 85 (preliminary)
    • May: 138 (preliminary)
    • April: 51 (preliminary)
  • producing:
    • May, 2023: 17,913 (new all-time high) 
    • April: 17,768

******************************
Daily Report

Active rigs: 37

WTI: $75.42. Down almost 2% on the day; down $1.47 on the day.

  • Murban crude: $80.68.

Five new permits, #40041 - #40045, inclusive:

  • Operator: CLR
  • Field: Antelope (McKenzie)
  • Comments:
    • CLR has permits for five Quale Federal wells in SENW 1-152-94; 
      • to be sited between 2049 FNL and 2181 FNL and between 2188 FWL and 2310 FWL

Permitted for pilot projects:

  • 40040, Resonance Exploration; Bottineau, water injection
  • 40046, Resonance Exploration; Bottineau, water injection

Four permits renewed:
BR

Two producing wells (DUCs) reported as completed:

  • 39075, 133, Crescent Point Energy, CPEUSC Szarka 3-36-25-159N-100W-MBH
  • 36424, no IP, XTO, Linda 41X-22C, Williams County

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