More North Dakota production information
Previous post showed the oil production in North Dakota through August 2016. Here is some more info on production in the state. Data is extracted from the monthly “Director’s Report” and historical production data.
Average sweet crude prices for North Dakota oil. This reflects a discount from the West Texas Intermediate due to transportation costs.
Here is the value of monthly production based on actual output multiplied by the average sweet crude price rolled into the preceding graph:
Check out the backlog of wells waiting to be fracked, which is called the ‘fracklog’:
There is a huge number of wells that only needed to be fracked and then they can start producing.