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 July 2019, North Dakota oil production breaks record for second month in a row.

Four of the reasons oil prices are *not* completely crazy after the attack on Saudi Arabia’s processing facilities this past weekend. Photo by James Ulvog.

The Million Dollar Way blog points out With The July, 2019, Data, North Dakota Set Four New All-Time Records.

In July, the state energy wizards set four record levels of production:

  • Crude oil
  • Gas
  • Barrels of oil equivalent (converting gas into equivalent amount of oil and combining with crude production)
  • Number of producing wells

Breaking production records in North Dakota, New Mexico, and Texas is something to celebrate if you like being able to get gasoline for your car whenever you feel like doing so, or if you like having gas available at reasonable prices in spite of when, oh, say, someone drops a bunch of bombs on Saudi production facilities.

Average daily oil production in July was 1,442,459 BOPD (preliminary), which is a 1.21% increase over June, which was a 2.17% increase over May.

By my notes, that is 9 times since May 2018 the state set a new record for crude production.

Record levels of oil production were set in 5/18, 7/18, 8/18, 9/18, 10/18, with one month break then again in 12/18, 1/19, and again in 6/19 and 7/19. Looks like new record in 9 of the last 15 months. Cool, huh?

Check out the state-wide and Bakken-only oil production since 2008.

 

For longer term perspective, look at oil production since 2004.

 

Wondering what the value of monthly oil production looks like in the state? Check it out:

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: