North Dakota oil production increased 4% from a little more than 875,000 b/d in July to more than 911,000 b/d in August. Natural gas production rose ~3% and eclipsed 1 Bcf/d for the first time.
That means North Dakota accounts for more than 15% of all the oil produced and 1.5% of all the natural gas produced in the onshore U.S.
Largest Monthly Bakken Production Increase Ever in July
Bakken production increased by more than 4% or ~35,000 b/d in in August to reach 847,000 b/d. That represents significant growth over volumes of ~638,000 b/d in August 2012 and ~379,000 b/d in August of 2011.
Other notes from the August monthly NDIC Director's Cut include:
- 287 wells were permitted
- 9,452 wells producing
- Average crude oil price of ~$93/bbl in August
- Completions fell from 251 in July to 130 in August
- Time from spud to total depth averaged 22 days
- Time from spud to first completion rose from 79 to 105 days
- About 450 wells are waiting to be completed
August completion levels falling should not be alarming. July completion figures were inflated by bad weather and other completion delays in prior months.
Read the full director's cut at dmr.nd.gov