← Back to Blog

Bakken Monitor – March 2019

  • North Dakota's December 2018 output set a new record of 1.401 million b/d (+25,000 b/d), in line with our 1.396 million b/d (+20,000 b/d) forecast. Wells returned to production after poor weather in November.
  • For January, we see North Dakota production at 1.428 million b/d (+27,000 b/d m-o-m). We see North Dakota production averaging 1.411 million b/d in 2019 (+136,000 b/d), though December to December production growth is just 77,000 b/d.
  • Two papers in the Journal of Petroleum Technology warn that Permian well performance is declining and that optimal spacing means fewer wells should be drilled, potentially impacting long-term production.
  • Exxon and Chevron are making US LTO production growth a priority, each targeting c. 1 million boe/d (i.e. both oil and gas) production from US LTO by 2024.
  • This contrasts with a poor 4Q18 performance from the independents, giving further support to our “two-speed industry” thesis.

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.

by Graham Walker // 14 March, 2019

←   Back to Blog