{"id":13390,"date":"2015-10-14T07:26:17","date_gmt":"2015-10-14T12:26:17","guid":{"rendered":"http:\/\/olduvai.ca\/?p=13390"},"modified":"2015-10-14T07:26:17","modified_gmt":"2015-10-14T12:26:17","slug":"bakken-production-down-plus-iea-predictions","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=13390","title":{"rendered":"Bakken Production Down plus IEA Predictions"},"content":{"rendered":"

Bakken Production Down plus IEA Predictions<\/a><\/h3>\n

The\u00a0Bakken<\/a>\u00a0and\u00a0North Dakota<\/a>\u00a0production data is in.<\/strong><\/p>\n

\"ND<\/a><\/p>\n

Bakken production was down 19,502 bpd in August while all North Dakota was down 20,552 bpd.<\/p>\n

<\/span>
\n\"ND<\/a><\/p>\n

Here is an amplified chart of Bakken and all North Dakota production.<\/p>\n

\"ND<\/a><\/p>\n

Bakken barrels per well per day is now 112 while all North Dakota gets 94 barrels per well per day.<\/p>\n

\"North<\/a><\/p>\n

This chart shows the monthly change in North Dakota production. It is likely that by next month the 12 month average change in production will be negative.<\/p>\n

Bakken wells producing increased by 69 and ND wells producing increased by 65.<\/p>\n

From the\u00a0Director\u2019s Cut<\/a><\/strong><\/p>\n

July Permitting: 233 drilling and 0 seismic<\/em>
\nAug Permitting: 153 drilling and 1 seismic<\/em>
\nSep Permitting: 154 drilling and 1 seismic<\/em><\/p>\n

July Sweet Crude Price1 = $39.41\/barrel<\/em>
\nAug Sweet Crude Price = $29.52\/barrel<\/em>
\nSep Sweet Crude Price = $31.17\/barrel<\/em>
\nToday\u2019s Sweet Crude Price = $35.00\/barrel<\/em>
\n(low-point since Bakken play began was $22.00 in Dec 2008)<\/em>
\n(all-time high was $136.29 7\/3\/2008)<\/em><\/p>\n

July rig count 73<\/em>
\nAug rig count 74<\/em>
\nSep rig count 71<\/em>
\nToday\u2019s rig count is 67<\/em>
\n(in November 2009 it was 63)(all-time high was 218 on 5\/29\/2012)<\/em><\/p>\n

Comments: The drilling rig count increased 1 from July to August, decreased 3 from August to September, and dropped 4 more this month. Operators are now committed to running fewer rigs than their planned 2015 minimum as drill times and efficiencies continue to improve and oil prices continue to fall. This has resulted in a current active drilling rig count of 10 to 15 rigs below what operators indicated would be their 2015 average if oil price remained below $65\/barrel. The number of well completions fell from 119(final) in July to 115(preliminary) in August. Oil price weakness now anticipated to last well into next year is the main reason for the continued slow-down. There was one significant precipitation event in the Minot area, 6 days with wind speeds in excess of 35 mph (too high for completion work), and no days with temperatures below -10F.<\/em><\/p>\n

…click on the above link to read the rest of the article…<\/p>\n","protected":false},"excerpt":{"rendered":"

Bakken Production Down plus IEA Predictions The\u00a0Bakken\u00a0and\u00a0North Dakota\u00a0production data is in. Bakken production was down 19,502 bpd in August while all North Dakota was down 20,552 bpd. Here is an amplified chart of Bakken and all North Dakota production. Bakken barrels per well per day is now 112 while all North Dakota gets 94 barrels […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3],"tags":[48,416,3619,1395,6245,6074,1474],"class_list":["post-13390","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bakken","tag-iea","tag-international-energy-administration","tag-north-dakota","tag-peak-oil-barrel","tag-ron-patterson","tag-us-oil-production"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13390","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13390"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13390\/revisions"}],"predecessor-version":[{"id":13391,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13390\/revisions\/13391"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13390"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13390"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13390"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}