North Dakota - update until 2015-12
02 / 18 / 2016
Total oil production in ND in December fell to 1152 kbo/d, a monthly drop of 30 kbo/d. This output was in line with my expectation based on the normal production decline, and the number of new wells producing in Nov (77) and Dec (78).
Drilling activity has dropped significantly since December. There were 88 wells spudded in December, whereas based on preliminary data it looks like just 60 wells were spudded in January. The last time it was that low was at the end of 2009.
Completions during the winter are lower than in the summer months. I therefore expect oil production in ND to decline by another 60 kbo/d to about 1090 kbo/d (+-30kbo/d) in March.
In about a week I will post another update on the Niobrara. I'm also trying to get data on the Permian and Eagle Ford. At this moment I can't say yet whether that effort will succeed. I will give another update on that next month.