Add to Basket £59.99 inc VAT
'Permania' continues as SM sells its Bakken acreage to Oasis in order to focus on Texas's Permian basin. 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. Following a surprise increase in July, August saw a large decline despite increased completions, as production decline from older wells accelerated. We forecast production growth in September 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, despite two achieving 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.