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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