State Oil Production Update - November 2013

According to preliminary data released today by the North Dakota Industrial Commission, North Dakota produced 27,958,190 barrels of oil in September 2013, compared to an adjusted total of 28,246,774 barrels in August 2013. Total gas production for September was 31,811,414 MCF (preliminary), compared to 31,246,547 MCF in August (adjusted). Total number of wells actually producing during Septmber was 9,682 (preliminary), compared to 9,475 in August (adjusted).

The following comments from NDIC Mineral Resources Director Lynn Helms accompanied today's report...

The drilling rig count was unchanged from Aug to Sep and the number of well completions rose sharply from 153 to 207, resulting in a 2% increase in oil production. However, drilling crews drilled approximately 1.5 wells for every well that completion crews put on production. Industry reports that this is a result of batch processing on multi-well pads. Days from spud to initial production remained steady at just over 100. The uncertainty surrounding federal policies on taxation and hydraulic fracturing regulation continues to make investors nervous.  More

Source: North Dakota Industrial Commission