Outrun Change

We need to learn quickly to keep up with the massive change around us so we don't get run over. We need to outrun change.

More graphs showing North Dakota oil production – 1/18

Workover rig on a 3-well pad in city limits of Willison. Photo by James Ulvog.

Workover rig on a 3-well pad located inside the city limits of Williston. Photo by James Ulvog.

Mentioned Saturday there was a small increase in oil production during November. Here are a few more graphs.

Value of the production is dropping fast due to the world-wide drop in prices. These reflect the discount to allow for transportation costs to the Gulf, East, or West coast.

price by month 1-16

The number of rigs had plateaued for a while. It is dropping quickly in January:

rig count 1-16

Number of wells that have been drilled but not fracked is sort of on a plateau. This is called the fracklog. As in fracking backlog.

fracklog 1-16

Surprise for me is the fracklog is not increasing. That obviously reflects that the number of rigs has dropped substantially. Keep in mind that means there are a thousand wells, give or take, that can come on line quickly if prices rise a bit.

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