BakkenMonitor_January-2017


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Bakken Monitor – January 2017 October Surprise

North Dakota adds its most ever in a single month as Whiting restarts Twin Valley amongst other older wells brought back online. 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 lower in November 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.

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