Friday, March 15, 2013

State Production Update - March 2013

According to preliminary data released today by the North Dakota Industrial Commission, North Dakota produced 22,878,682  barrels of oil in January 2013, compared to an adjusted total of 23,873,431 in December 2012. Total gas production for January was 24,584,184 mcf (preliminary), compared to 25,362,710 mcf in December (adjusted). Total number of wells actually producing during January was 8,322 (preliminary), compared to 8,237 in December (adjusted).

Comments from NDIC Mineral Resources Director Lynn Helms...

January brought us winter storm Gandolph followed by over a week of sub-zero temperatures and wind chills. Even though the drilling rig count held in the middle 180s rig efficiency fell and the number of well completions plummeted 26% to 85. That number of completions is half previous 12 month average and below the threshold needed to maintain production. Oil production rate fell sharply down 4.2% from December. Operators continuing to push for higher efficiency rigs and implement cost cutting measures. The uncertainty surrounding future federal policies on taxation and hydraulic fracturing remain. Over 95% of drilling still targets the Bakken and Three Forks formations. more

One Year Snapshot  using adjusted numbers from NDIC monthly production reports        
                             Oil                        Natural gas
1/2012 ---  • 16,935,846  barrels   • 17,738,391 mcf    • 6,624 producing wells
2/2012 ---  • 16,198,174  barrels   • 17,454,211 mcf    • 6,739 producing wells
3/2012 ---  • 17,901,807  barrels   • 19,302,603 mcf    • 6,932 producing wells
4/2012 ---  • 18,285,087  barrels   • 19,525,128 mcf    • 7,036 producing wells
5/2012 ---  • 19,839,420  barrels   • 21,360,912 mcf    • 7,205 producing wells
6/2012 ---  • 19,938,546  barrels   • 20,998,335 mcf    • 7,365 producing wells
7/2012 ---  • 20,963,713  barrels   • 22,295,369 mcf    • 7,481 producing wells
8/2012 ---  • 21,743,671  barrels    • 23,633,182 mcf     • 7,719 producing wells
9/2012 ---  • 21,877,429  barrels    • 23,874,169 mcf     • 7,899 producing wells
10/2012 ---• 23,225,571  barrels    • 24,731,342 mcf     • 8,035 producing wells
11/2012 ---• 22,051,858  barrels    • 23,519,924 mcf     • 8,122 producing wells
12/2012 ---• 23,873,431  barrels    • 25,362,710 mcf     • 8,237 producing wells
1/2013 ---  • 22,878,682  barrels    • 24,584,184 mcf     • 8,322 producing wells preliminary

Source: North Dakota Industrial Commission 

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