North Dakota oil production drops 1.2% in February, or 14K barrels a day

Numbers are out for February 2014. Average production in February was 1,177,094, which is down 14,104 from the very slightly revised January amount.

Here is the production in graphs:

4-15 production 

For a longer term perspective:

 4-15 prod long term

Using the average sweet price mentioned in the Director’s Cut, here is the value of monthly production.

 4-15 value by month

Reason for the drop in value is the price per barrel:

 4-15 price by month

That slight recovery in current month is good but not a lot of help. On the other hand, at least the price isn’t still falling.

More graphs for February production are here.


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