BakkenMonitor_January-2017

Bakken Monitor – January 2017

  • North Dakota's oil production rose to 1.043 million b/d in October from 0.972 million b/d in September (+0.071 million b/d m-o-m), the largest ever single month increase
  • October regained production lost in August as Whiting completed 13 wells on its prolific ‘Twin Valley’ acreage while older wells also saw gains
  • We forecast production of 1.030 million b/d in November (-13,000 b/d m-o-m) as we see October production figures as boosted by output from temporarily shut-in older wells
  • The November OPEC deal has allowed LTO producers back into the credit markets, which we see as more indicative of a potential return than further hedging
  • Our new model for US LTO production sees 2017 production at 4.26 million b/d (-227,000 b/d y-o-y), though our best-case scenario limits decline to 0.173 million b/d

Please log in to view
the rest of this report.


Not yet a subscriber?
Contact us today!

If you do not yet have an account with us and would like to register or find out more, please contact us using our client services form, send an email to admin@petrologica.com or call us on +44(0)1206 823 295.