Tuesday, May 13, 2014

State Oil Production Update - March 2014

According to preliminary data released today by the North Dakota Industrial Commission, North Dakota produced 30,288,575 barrels of oil in March 2014, compared to an adjusted total of 26,657,540 barrels in February 2014. Total gas production for March was 33,671,853 MCF (preliminary), compared to 29,793,672 MCF in February (adjusted). Total number of wells actually producing during March was 10,457 (preliminary), compared to 10,199 in February (adjusted).

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

The drilling rig count was up slightly from February to March and back down from March to April. The number of well completions was up sharply from 70 to 200. Investor confidence remains strong. There were still approximately 50 wells shut in for the Tioga gas plant conversion in an attempt to minimize flaring, but the biggest 5/13/2014 production impact was still the weather. March began with 2-3 days of temperatures well below zero, add to that 7-12 days with wind speeds too high for completion work, and then 8 inches of snow on the last day of the month. In like a lion and out like a lion makes oil and gas work difficult. more

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