ConocoPhillips' Bakken Oil Production Impacted By Bad Weather - Still Growing

ConocoPhillips Bakken Leashold and Mineral Acreage Map
ConocoPhillips Bakken Leashold and Mineral Acreage Map

ConocoPhillips' Bakken production grew 3% over the first quarter to average 30,000 boe/d in the second quarter of 2013. Production was impacted by extreme weather in May and June, but the company stated it is "back on track" and running 11 rigs in the region.

See related article: Wet Weather Forcing Delays in Bakken Oilfield.

Conoco plans to grow production from 30,000 boe/d to 45,000 boe/d by 2017. Current development plans project to more like 50,000 boe/d or more over the next few years. It's safe to say the company's published estimates are conservative.

ConocoPhillips has an over 600,000 acre position in the Bakken and expects its ultimate resource potential is more than 600 million barrels.

Read the company's full press release at