Bakken Monitor – November 2016

  • North Dakota's oil production fell to 981,038 b/d in August from 1.030 million b/d in July (-49,000 b/d m-o-m) below our forecast of 1.013 million b/d
  • Following a surprise increase in July, August saw a large decline despite increased completions, as production decline from older wells accelerated
  • We forecast production of 993,000 b/d in September (+12,000 b/d m-o-m) as higher completion numbers persist and wells completed late August reach peak production
  • Third quarter results season kicked off with North Dakota’s three largest producers losing $1.15 billion between them, though two achieved cash flow positivity
  • We take an in-depth look at Whiting’s “superfrac” wells utilising 10.1 million pounds of proppant
  • SM exits the Bakken in favour of the Permian, selling its acreage to troubled operator Oasis

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