{"id":22038,"date":"2016-10-16T18:58:09","date_gmt":"2016-10-16T23:58:09","guid":{"rendered":"http:\/\/olduvai.ca\/?p=22038"},"modified":"2016-10-16T19:01:20","modified_gmt":"2016-10-17T00:01:20","slug":"bakken-production-down-opec-production-up","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=22038","title":{"rendered":"Bakken Production Down, OPEC Production Up"},"content":{"rendered":"
\n

Bakken Production Down, OPEC Production Up<\/a><\/h3>\n
North Dakota has released August production data for the\u00a0Bakken<\/a><\/strong>\u00a0and also for all\u00a0North Dakota<\/a><\/strong>.<\/div>\n<\/header>\n
\n

\"bakken-bpd\"<\/p>\n

Bakken production was\u00a0down 46,43<\/strong>3 barrels per day to 930,931 bod, All North Dakota was\u00a0down 48,695 bpd to 981,039 bpd.<\/strong>\u00a0This is first time North Dakota has been below 1 million barrels per day since March of 2014.<\/p>\n

\"bakken-bpd-per-well\"<\/p>\n

Bakken barrels per day per well dropped by 4 to 97 while all North Dakota bpd per well dropped by 3 to 76.<\/p>\n

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

Oil Production<\/strong><\/p>\n

July \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 31,921,757 barrels = 1,029,734 barrels\/day
\nAugust\u00a0\u00a0\u00a0\u00a0\u00a0 30,412,200 barrels =\u00a0\u00a0 981,039 barrels\/day (preliminary)(all-time high was Dec 2014 at 1,227,483 barrels\/day)<\/p>\n

Producing Wells<\/strong><\/p>\n

July \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 13,265
\nAugust\u00a0\u00a0\u00a0\u00a0\u00a0 13,289 (preliminary)(all-time high)<\/p>\n

Permitting<\/strong><\/p>\n

July \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 86 drilling and 0 seismic
\nAugust\u00a0\u00a0\u00a0\u00a0 \u00a099 drilling and 1 seismic September\u00a0\u00a0 63 drilling and 1 seismic (all time high was \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0370 in 10\/2012)<\/p>\n

ND Sweet Crude Price<\/strong><\/p>\n

July \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 $35.57\/barrel
\nAugust \u00a0 \u00a0 \u00a0 \u00a0 \u00a0$33.73\/barrel
\nSeptember\u00a0\u00a0 $32.98\/barrel Today\u00a0\u00a0\u00a0\u00a0 $39.75\/barrel (all-time high was $136.29 7\/3\/2008)<\/p>\n

\u00a0Rig Count<\/strong><\/p>\n

July \u00a0 \u00a0 \u00a0 \u00a0\u00a0 \u00a0 \u00a031
\nAugust\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 32
\nSeptember\u00a0\u00a0 34 Today\u2019s rig count is 33 \u00a0 \u00a0 (all-time high was 218 on 5\/29\/2012)<\/p>\n

Comments:<\/strong><\/em><\/p>\n

The drilling rig count increased one from July to August, then increased two from August to September, and is down one more from September to today.\u00a0 Operators remain committed to running the minimum number of rigs while oil prices remain below $60\/barrel WTI.\u00a0\u00a0The number of well completions rose from 44(final) in July to 59(preliminary) in August.<\/strong>\u00a0 Oil price weakness is the primary reason for the slow-down and is now anticipated to last into at least the fourth quarter of this year and perhaps into the second quarter of 2017.\u00a0 There were no significant precipitation events, 11 days with wind speeds in excess of 35 mph (too high for completion work), and no days with temperatures below -10F.<\/em><\/p>\n

The new October\u00a0OPEC Monthly Oil Market Report<\/a>\u00a0is out with crude only production numbers for\u00a0September\u00a02016.<\/strong>\u00a0All charts are in thousand barrels per day.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n

 <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bakken Production Down, OPEC Production Up North Dakota has released August production data for the\u00a0Bakken\u00a0and also for all\u00a0North Dakota. Bakken production was\u00a0down 46,433 barrels per day to 930,931 bod, All North Dakota was\u00a0down 48,695 bpd to 981,039 bpd.\u00a0This is first time North Dakota has been below 1 million barrels per day since March of 2014. […]<\/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":[48,1395,600,6245,6074],"class_list":["post-22038","post","type-post","status-publish","format-standard","hentry","category-energy-2","tag-bakken","tag-north-dakota","tag-opec","tag-peak-oil-barrel","tag-ron-patterson"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22038","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=22038"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22038\/revisions"}],"predecessor-version":[{"id":22040,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/22038\/revisions\/22040"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22038"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22038"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22038"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}