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THE DEATH OF THE BAKKEN FIELD HAS BEGUN: Means Big Trouble For The U.S.

September 17, 2016

THE DEATH OF THE BAKKEN FIELD HAS BEGUN: Means Big Trouble For The U.S.

The Death of the Great Bakken Oil Field has begun and very few Americans understand the significance.  Just a few years ago, the U.S. Energy Industry and Mainstream media were gloating that the United States was on its way to “Energy Independence.”

Unfortunately for most Americans, they believed the hype and are now back to driving BIG SUV’s and trucks that get lousy fuel mileage.  And why not?  Americans now think the price of gasoline will continue to decline because the U.S. oil industry is able to produce its “supposed” massive shale oil reserves for a fraction of the cost, due to the new wonders of technological improvement.

I actually hear this all the time when I travel and talk to family, friends and strangers.  I gather they have no clue that the Great Bakken Oil Field is now down a stunning 25% from its peak in just a little more than a year and half ago:

bakken-field-oil-production-sept-2016

The mighty Bakken oil field located in North Dakota reached peak production in December 2014 at 1.26 million barrels per day (mbd) and is now down to 942,000 bd.  This decline is no surprise to me or to my readers who have been following my work for the past several years.

I wrote about the upcoming crash of the Bakken oil field in my article (click on image to read article)– Published, NOV. 2013:

the-coming-bust-of-the-great-bakken-oil-field

I ended the article with these sobering words:

There are only so many drilling locations available and once they run out, the Great Bakken Field will become a BUST as the high decline rates will push overall oil production down the very same way it came up.

…click on the above link to read the rest of the article…

 

Bakken April Production Data

June 13, 2015

Bakken April Production Data

The North Dakota Industrial Commission is out with the April production Data for theBakken and all North Dakota.

Bakken Production

Eight month of flat to down production from the Bakken.

Bakken Amplified

I have shortened the data to 16 months here to give a better picture of what is really happening. North Dakota reached an 8 month low. North Dakota, in April, was 17,631 barrels per day below their September 2014 production. The Bakken was only 11,024 below September 2014 so conventional wells seem to be dropping off pretty fast.

The Baken is 54,599 bpd below their peak in December and all North Dakota is 59,385 bpd below their December Peak.

As usual there was very little adjustments in the previous months data. Bakken March production was adjusted down by 114 barrels per day while North Dakota production was adjusted down by 81 barrels per day.

Bakken BPD Per Well

Bakken BPD per well has been dropping for four months now. Bakken bpd per well now stands at 116, down 4 from March. All North Dakota bpd per well is now 96, down 3 while conventional wells bpd per well is 23, down 1 from March.

Bakken Wells Producing

Bakken wells producing increased by 107 while North Dakota wells producing increased by 101.

The North Dakota rig count now stands at 75, down 7 since Wednesday.

…click on the above link to read the rest of the article…

 

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