EIA Bakken Oil Graph Oct 2013
North Dakota oil production is on pace to eclipse 1 million b/d by year-end. The state reported production of ~932,000 b/d in September and is expected to add between 20,000 and 30,000 b/d each month going forward.
ND natural gas production set a new record at 1.06 bcf/d.
The state should also eclipse 10,000 producing wells before year-end. The real risk to any of the above trends is snow and cold weather.
Other takeaways include:
- 207 wells were completed in September - up from 153 in August
- One well is getting completed for every 1.5 drilled
- Time from spud to first production held at ~100 days
- >95% of drilling targets the Bakken and Three Forks
- Natural gas prices near Watford City are trading near $3/mcf
Read the full director's cut at dmr.nd.gov