First guess on long term Bakken production

Photo by James Ulvog.
When I see a rig like that, I see another half million barrels of oil. Photo by James Ulvog.

Time to start accumulating predictions for long-term production of crude oil in North Dakota with the huge drop in oil prices during 2015.

Here’s the first data point:

9/2 – The Million Dollar Way – Great Article on America’s Super-Abundance of Oil Unsourced comment is Bakken production would have hit 2 million bopd in late 2015 or sometime in 2016 if prices had continued as they were last year.

Production is now running around 1 million bopd.

Mr. Oksol guesses that regardless of whether the Saudis continue flooding the market, production out of Bakken will drop to 750,000 bopd and plateau at that level.

My guess? I don’t have the foggiest clue on whether there will be a plateau, if so when, and if when what level.

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