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 October 2019 North Dakota continues record setting level of oil production after one month break

Oil pad with four wells; one with pumpjack and three without. Looks like there is room for another six or more wells eventually. Photo by James Ulvog.

Crude oil production hit yet another record level in October at 1,517,796 barrels of oil per day (BOPD) (preliminary). September was not a record at 1,443,980 BOPD (revised). September was only the third highest production.

During 2019, record level of production was hit in October, August, July, June, and January. Record was broken in 2018 during December, October, September, August, July, and May.

Huge amount of room on that site for additional wells. Already have two rows of wells. Photo by James Ulvog.

What does the average daily production trend look like? Check it out:

 

If you happen to like having gasoline available at whatever gas station where you wish to fill up on whatever day you wish to do so, that is very good news.

How about the average price for North Dakota sweet crude and West Texas Intermediate? Here is the trend.

 

Combining the monthly production with the average North Dakota sweet crude price shows an estimate of the value of production in the state:

 

For a longer term trend, here is the average daily production since 1990:

 

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