Tuesday, April 16, 2013

ND Oil Production for February Reported

According to preliminary data released today by the North Dakota Industrial Commission, North Dakota produced 21,811,176  barrels of oil in February 2013, compared to an adjusted total of 22,871,411 in January 2013. Total gas production for February was 23,809,389  mcf (preliminary), compared to 24,553,644 mcf in January (adjusted). Total number of wells actually producing during February was 8,492 (preliminary), compared to 8,342 in January (adjusted).  On a barrels/day basis, February's total was 778,971 (a new record) compared to 737,787 barrels/day in January.

Comments from NDIC Mineral Resources Director Lynn Helms...

February weather was more normal with no major storms or extreme temperatures and wind chills. Even though the drilling rig count dropped slightly; the number of well completions doubled to 170. That number of completions is well above the threshold needed to maintain production so oil production rate rose sharply, up 5.6% from January. Operators continue to keep the brakes on, pushing for higher efficiency and cost cutting measures. Uncertainty surrounding future federal policies on taxation and hydraulic fracturing remains. 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
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 ---  • 22,871,411  barrels    • 24,553,644 mcf     • 8,342 producing wells
2/2013 ---  • 21,811,176  barrels    • 23,809,389 mcf     • 8,492 producing wells preliminary

Source: North Dakota Industrial Commission 

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