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.

In 2018, North Dakota oil production broke record level of output 6 times during 8 months.

Two things to notice. Lots of space between pumpjacks means there will eventually be several more wells on that pad. Lack of any storage tanks means the pad is tied directly to an underground pipeline. Photo by James Ulvog.

Oil production in North Dakota hit an all time high of an average of 1,229,572 barrels of oil per day (bopd) back in December 2014.  The effort by Saudi Arabia to flood the market in order to drive down prices in order to collapse the US shale industry slowed production in North Dakota but didn’t succeed in killing the shale sector.

Output fell to a low of 942,322 bopd in December 2017. Output then started rising with a typical slowdown in winter of 2017/2018.  After the winter lull production again climbed.

In 2018, producers in North Dakota broke the record level of production six times in the last eight months. The record-breaking months:

month ave BOPD
December-14             1,229,572
May-18             1,248,222
July-18             1,269,315
August-18             1,292,513
September-18             1,359,284
October-18             1,392,407
December-18             1,401,385

 

Oh, by the way, 20 or 40 years ago the petroleum wizards had no clue whatsoever on how to get more than 100K bopd of that oil out of the ground.  Now the production is far above a million barrels a day. I must again ask:

What peak oil?

Single Post Navigation

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: