Tag: North Dakota

Average daily production in July was 874,681 barrels (bopd), which is an increase of 53,150 per day, or 6.47% for the month.

By my calc, this is an increase of 198,281 bopd from 7-12 to 7-13, or 29.3%. In the prior year (7-11 to 7-12), daily production increased by 251,231 bopd, or 50.1%.

The 12 month increase through 7-13 was smaller in amount and percent than the prior year.  Only a one-third increase in a year.  As I’ve pointed out before, only in the world of North Dakota oil production is a 29% annual increase not impressive when compared to the prior year.

Director’s cut is here.

Here are some graphs. Average daily production of the last 5 1/2 years: Continue reading “North Dakota oil production hits another record in 7-13 with 6.5% increase for month”

Bruce Oksol provides a voice of calm in response to an alarmist editorial in the Bismarck Tribune. The editorial mentions that the state government expects 6,000 wells to come on-line in the next three years. That will lead to huge increases in drilling, truck traffic, and overall activity. At least according to the paper: Prepare for a “big surge” in Bakken.

Actually, that would be a continuation of the pace of drilling that is going on now. Today. More Details on the Coming Surge in The Bakken: 6,000 Additional Bakken Wells Over The Next Three Years reminds us that the current production rate is already 2,000 new wells a year.

Continue reading ““Bakken Assembly Line” – drilling will continue for 3 more years at the current pace”

January production dropped to 738,022 BOPD from revised 770,111 in December and preceding high of 749,095 in October.

Comments follow the graph:

 

  Continue reading “North Dakota oil production drops in January ‘13 because of bad weather”

Average daily oil production in North Dakota for May 2012 was 639,277 bopd, which is an increase of 29,904 barrels per day over April, or 4.9%.  The April increase was 33,883 bopd, or 5.9% for the month. Increase in March was 17,235 bopd, or 3.1% over February.

Number of wells increased to 6,954.

You can find the data here.

Here is a graph of monthly production:

For some longer term perspective, here is the production data for the month of May over the last 5 years. Continue reading “Graph of North Dakota oil production – another record – May 2012”

Here’s a few graphs of North Dakota oil production.

Click on any graph to enlarge.

Average daily production by month:

Annual average of daily production (calculated as total production for the year divided by 365, except for 2012 which is divided by 121): Continue reading “Graphs of North Dakota oil production – April 2012”

The Chicago Tribune provides a few pieces of info for drilling costs in their aricle Insight: Peak, pause or plummet? Shale oil costs at crossroads

The article, by Selam Gebrekidan, gives some pricing data from Occidental Petroleum.

The cost of bringing one Bakken well into production has grown from an average $6.5 million in 2010 to $8.5 million in the first quarter this year, data from company reports and the state regulator show.

Break even point:

Efficient forms of fracking are also helping companies extract more oil from each well, lowering the break-even cost of production, now estimated between $55 and $70 a barrel.

For the economics of drilling, here is some market data: Continue reading “One set of data points for the cost of drilling in Bakken and the beauty of pricing signals”