NDIC’s Lynn Helms’ Director’s Cut w/comments………………………..11/18/2015

November 13, 2015

Director’s Cut
Lynn Helms
NDIC Department of Mineral Resources

August Oil 36,816,555 barrels = 1,187,631 barrels/day
September Oil 34,867,577 barrels = 1,162,253 barrels/day (preliminary)(all-time high was Dec 2014 at 1,227,483 barrels/day)
1,106,612 barrels per day or 95% from Bakken and Three Forks
55,641 barrels per day or 5% from legacy conventional pools

August Gas 51,032,167 MCF = 1,646,199 MCF/day
September Gas 48,113,551 MCF = 1,603,785 MCF/day (preliminary)(all-time high was July 2015 at 1,660,184 MCFD)

August Producing Wells = 13,031
September Producing Wells = 13,025 (preliminary)(all-time high was August 2015 at 13,031)
10,228 wells or 78% are now unconventional Bakken – Three forks wells
2,797 wells or 22% produce from legacy conventional pools

August Permitting: 153 drilling and 0 seismic
September Permitting: 154 drilling and 1 seismic
October Permitting: 152 drilling and 1 seismic (all time high was 370 in 10/2012)

August Sweet Crude Price1 = $29.52/barrel
September Sweet Crude Price = $31.17/barrel
October Sweet Crude Price = $34.37/barrel
Today’s Sweet Crude Price = $31.25/barrel (low-point since Bakken play began was $22.00 in Dec 2008)(all-time high was $136.29 7/3/2008)

August rig count 74
September rig count 71
October rig count 68
Today’s rig count is 64 (in November 2009 it was 63)(all-time high was 218 on 5/29/2012)

The statewide rig count is down 71% from the high and in the five most active counties rig count is down as follows:
Divide -69% (high was 3/2013)
Dunn -68% (high was 6/2012)
McKenzie -65% (high was 1/2014)
Mountrail -78% (high was 6/2011)
Williams -79% (high was 10/2014)

Online Report Here w/Comments