More October data on North Dakota oil production

Notice the large amount of empty space on that pad? There will be a lot more wells there eventually. Photo by James Ulvog.
Notice the large amount of empty space on that pad? There will be a lot more wells there eventually. Photo by James Ulvog.

Here are a few more graphs on crude production in North Dakota:

Here is the rig count info:

rig count 10-15

The count of rigs is not a big as deal today as it was a few years ago because the rig productivity has increased so much. Looking at the last 6 or 8 months seems sort of like a plateau. A slight downward trend but not a dropoff.

Here is the crude price by month:

crude price 8-15

That is a very painful drop, unless you are a consumer. After a jump, there was a drop and now a small increase.

I calculate the value of monthly production here:

oil value by month 8-15

As expected, output that resembles a plateau shows a dramatic drop in dollars, because the price has dropped so far.

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