Sign into your Analytics account Sign in
Bakken Monthly Update
North Dakota – update through December 2020
Oil production in North Dakota continued its fall to 1.15 million bo/d in December (before revisions). Almost 600 wells were completed in 2020, fewer than half compared with the previous year (1,270) and the lowest number since 2009. This was obviously not sufficient to maintain output and the loss year-over-year was almost 300 thousand bo/d.- Feb 07, 2021
- 4 mins read
North Dakota – update through November 2020
Oil production in North Dakota fell by less than 1% in November at just below 1.18 million bo/d. This was a tad lower than the first peak in December 2014 (1.19 million b/d). Although more than 2,100 wells are still shut-in (up from 1,500 before the pandemic started and down from the 4,300 in May), I don’t expect this number to fall by much anymore, as it hasn’t over the last month. Through November 2020, 551 wells started production, which was less than half compared with the same period in the year before (1,176).- Jan 12, 2021
- 3 mins read
North Dakota – update through October 2020
Oil production in North Dakota fell by 1% in October to just below 1.2 million bo/d, despite that more than 100 temporarily shut-in wells were brought back online. The main reason for the drop was that between May and October only 1 well was completed every day, on average, far below the level required to maintain current output (~3 wells/day).- Dec 08, 2020
- 3 mins read
North Dakota – update through September 2020
Oil production in North Dakota recovered for the 4th consecutive month in September, but by a smaller amount than in the previous 2 months (50 kbo/d vs >100 kbo/d). The inactive well count dropped by less than 10%, from 2,440 to 2,266, a level 50% higher than seen in March. Through September this year, 480 new wells came online, compared with 949 in the same period last year.- Nov 10, 2020
- 3 mins read
North Dakota – update through August 2020
Oil production in North Dakota continued to recover in August from the low in May, as it climbed to just above 1.1 million bo/d. About 700 more wells that were temporarily shut-in came back online in August, compared with almost 1,000 in the month before. Another 1,000 wells (above the March level) remain shut-in.- Oct 06, 2020
- 3 mins read
North Dakota – update through July 2020
North Dakota oil production recovered further in July to just above 1 million bo/d. This was about 150 thousand bo/d higher than in June, most of it due to existing wells being put back on production. Through July 423 new wells were completed, far below the level in the same period last year (719), but still higher than seen in 2016 (381). Just below 3,200 horizontal wells were inactive (not producing anything) in July, a drop of 1,000 compared with the month before. The number of inactive wells at the start of the year was about half (1,600).- Sep 09, 2020
- 3 mins read
North Dakota – update through June 2020
North Dakota oil production rose by 30 thousand bo/d in June to just shy of 0.9 million bo/d, after 2 months of steep declines. Despite the uptick in output, this was still half a million bo/d below the level at the start of the year.- Aug 12, 2020
- 2 mins read
North Dakota – update through May 2020
North Dakota oil production fell by 350 thousand bo/d in May to 0.85 million bo/d, an even larger decline than we saw in the previous month (200 kbo/d). The last time the state produced this much was 7 years ago.- Jul 13, 2020
- 3 mins read
North Dakota – update through April 2020
North Dakota oil production fell by 200 thousand bo/d in April to 1.2 million bo/d, the largest m-o-m decline to date. This was of course all related to the disastrous oil price during the month (WTI at $16) and operators decided to shut in many wells.- Jun 09, 2020
- 3 mins read
North Dakota – update through March 2020
North Dakota oil production fell in March by 3% to 1.38 million bo/d (horizontal wells only). From a production point of view, the sharply deteriorating circumstances for the oil industry were not visible yet. In the first quarter this year, 281 wells came online (vs. 216 last year).- May 07, 2020
- 3 mins read
Latest Posts
Pennsylvania – update through December 2020
- February 23, 2021
- 3 mins read
Eagle Ford – update through November 2020
- February 18, 2021
- 3 mins read
Permian – update through November 2020
- February 15, 2021
- 4 mins read
North Dakota – update through December 2020
- February 7, 2021
- 4 mins read
US – update through October 2020
- February 2, 2021
- 3 mins read
Pennsylvania – update through November 2020
- January 27, 2021
- 3 mins read
Eagle Ford – update through October 2020
- January 19, 2021
- 3 mins read
Permian – update through October 2020
- January 14, 2021
- 4 mins read
Archives
Newsletter
Save time. Receive the latest from our blog in your inbox
Recent Comments