These interactive presentations contain the latest oil & gas production data from all 15,884 horizontal wells in North Dakota that started production from 2005 onward, through March.
Visit ShaleProfile blog to explore the full interactive dashboard
North Dakota oil production fell in March by 3% to 1.38 million bo/d (horizontal wells only). From a production point of view, the sharply deteriorating circumstances for the oil industry were not visible yet. In the first quarter this year, 281 wells came online (vs. 216 last year).
Supply Projection dashboard
Drilling activity has sharply declined in the past 2 months; last week, 26 rigs were drilling horizontal wells, according to the Baker Hughes rig count, which is only half the level compared to 1.5 months ago. In our publicly available Supply Projection dashboard you can see that this level of drilling would only sustain a long-term production capacity of just over 1 million bo/d:
Oil supply projection in North Dakota, with no changes in rig count or productivity.
If you missed our webinar on this dashboard, you can still find a recording here: Supply Projection webinar (YouTube)
You can analyze how well productivity has changed in the “Well quality” overview. You will find that there were major improvements until the end of 2017, but that progress has halted since.
This can also be easily viewed in the following graph, taken from ShaleProfile Analytics (Professional):
Well productivity in ND since 2016, by quarter
The overall performance of the five largest operators can be found in the “Top operators” dashboard. Hess, the number 2, was the only major operator that has set a new production record this year, at 150 thousand bo/d.
The ‘Advanced Insights’ presentation is displayed below:
This “Ultimate recovery” overview shows how these horizontal wells are heading towards their ultimate recovery. They are grouped by the year in which production started.
On Friday afternoon we will update our Supply Projection dashboard again, with the latest rig count and production numbers. In the 2nd half of next week, we will have a new post on the Permian.
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.
Visit our blog to read the full post and use the interactive dashboards to gain more insight: https://bit.ly/2A9a4mb
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