North Dakota oil production passes 1,039,000 BOPD in 5/14

Check out this pump working away to bring oil to the surface so you can drive your car. Shaky photography courtesy of James Ulvog.

[youtube=http://youtu.be/3ZYVN_7PG_M]

 

Preliminary production data for the state is 1,039,635 barrels per day average in May 2014. That will be revised up a smidgen over the next two months.

At the average price for the month provided in the Director’ Cut report of $88.31 for 32.2M barrels, that is an economic output of $2.84 billion for the month. Very cool.

Here’s a few graphs:

Monthly production since 2008:

ND production 5-14

Two more  –

Monthly production since 1990:

ND production 10 yr to 5-14

Total barrels of oil given to boost the U.S. economy from North Dakota:

barrels by year

Increase in May was 3.6% over revised April. The increase in April was 2.8%.

Should be full steam ahead until the winter weather kicks in. Six months of 2% per month would put November production at 1.17M bopd.  A 2.5% monthly increase would be 1.21M bopd in November.

Carpe Diem says May was another record-setting month for North Dakota oil as the state’s daily output topped 1M bbls. for second month. Also points out for ten months in a row, North Dakota has provided over one-eighth of all U.S. production.

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