These interactive presentations contain the latest oil & gas production data from all 14,597 horizontal wells in North Dakota that started production since 2005, through March.
Visit ShaleProfile blog to explore the full interactive dashboards
Oil production in North Dakota rose by 4% in March m-o-m to 1.39 million bo/d, just below the record high in January (1.4 million bo/d). Natural gas production was even up by 6.5%, reaching 2.8 Bcf/d, a new all-time high.
As is shown in the chart above, the 13 thousand horizontal wells that started production before 2018 contributed only half of the oil production in March (everything below the light blue area).
Five to six years ago it used to take a well about 5 years to recover 200 thousand barrels of oil, as you’ll find in the bottom chart in the ‘Well quality’ overview. New wells are capable of reaching this level in just 15 months. However, initial declines are steeper nowadays. After about 2 years on production, these new wells decline to production rates not far above those of older vintages, on average (see the top chart in that dashboard).
The final tab reveals the production and location of the 5 leading operators. Hess just surpassed Whiting as the 2nd largest producer, far behind Continental Resources.
The ‘Advanced Insights’ presentation is displayed below:
This “Ultimate recovery” overview shows how all these horizontal wells are heading towards their ultimate recovery, with wells grouped by the year in which production started.
Also here it is easy to see that initial well productivity has improved almost every year since 2010. However, as noted last time, older vintages (2008-2011) appear to hold up a little better than later wells. This holds true even after excluding wells that have been refrac’ed (which is possible in our subscription services).
The following screenshot, taken from our analytics service, shows the output from the 7 largest fields in North Dakota. On the map, the locations of the wells in these fields are plotted.
Recently, production in Banks and Reunion Bay has jumped higher, surpassing the record output of the 2 fields where unconventional production really started in North Dakota; the Sanish and Parshall fields.
Early next week we will have a post on gas production in Pennsylvania, which also released March production data recently.
For these presentations, I used data gathered from the following sources:
DMR of North Dakota. These presentations only show the production from horizontal wells; a small amount (about 40 kbo/d) is produced from conventional vertical wells.
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Well, here comes another day of collecting money in the crude oil market. In my previous review here I wrote that the quotations of oil are preparing for a jerk.. It was clearly visible on the chart. I'm such a patern call "COBRA's THROW...
The price quite quickly reached the estimated levels. My calculation in BRENT turned out to be more accurate and the transactions were closed by take-profit. I closed the transactions in WTI manually. While the bulk of investors and speculators-losers belatedly discusses some news, technical analysis has seen everything beforehand. My profit in the best deal with WTI amounted to $1,082.
Isn't it bad? Now we will look and consider in what direction and for what purpose quotes go today. At this time I will work on small movements of the dreaming investors. By the way... Interesting what news investors and speculators-losers fasten to this jerk up? :)))
I flipped and closed the deal to SELL by take-profit. Let smart uncles and aunts with Oxford formations wonder why Why Oil is Still Underpriced
Yesterday in the trading terminal I observed a typical picture of the rushing-about crowd of the eager profit from oil. Most of this crowd is respectable misters. They like to talk about global warming, about unfortunate whales and the birdies perishing from oil, alternative power engineering and about the future of the offsprings on the perishing planet Earth. But for themselves they love money and convenient life more. Therefore for day monitor the investments, greedy read messages about the Russian oil pipelines with dirty oil, about accidents on oil fields and about the approaching hurricanes. All this will kill thousands of people and animals but will raise prices of oil and stock quotations of the oil companies. I do not watch news feeds, but on the movement of the price of oil it was visible that the crowd was inspired with some next misfortune and rushed to make purchases. It was pleasant to me to see this greedy and illiterate crowd. At me two positions were not closed from 16.05.2019 to SELL WTI. The crowd of investors gave me the chance still to earn on their greed and to make one more transaction to SELL at the level of
$ 63.951. My calculation the directions of the movement of quotations and the purpose of the movement were correct. I closed all transactions to SELL with a profit.
The majority was lost by money or spent one more day of the life at the same level. At the moment consolidation of the price is drawn. The movement from this consolidation will be very impressive... All of a profit