North Dakota oil production increases half a percent in October ‘15
Average daily production in the state increased from 1,162,159 average bopd in September to 1,168,950 bopd in October. That is an increase of 6,791 bopd, or 0.58%, just over half a percent.
Fracklog dropped from previously reported 1,091 to 975. That is still a huge amount of oil sitting on the shelf, just waiting for a frackjob to start producing.
Not quite what OPEC, I mean the Saudis, had planned when they adopted their plan to take out US shale.
Average price of sweet crude in the state is $27.00 now, was $32.16 in November, and $34.37 in September. That info from the Director’s Cut. That is really low.
That is perhaps what OPEC, err, the Saudis, were thinking.
Here are my regular basic production graphs. Won’t have the others this month.
Still looks sort of like a plateau.
Here is the long-term view:
That looks even more like a plateau.