Bakken-Monitor-May-2016


Add to Basket £59.99 inc VAT


Bakken Monitor – May 2016

  • North Dakota's oil production fell to 1.118 million b/d in February from 1.122 million b/d in January (-4,000 b/d), ahead of our forecast of 1.098 million b/d
  • A late surge in reported completions helped keep production broadly flat
  • We have increased our March production forecast to 1.110 million b/d (-8,000 b/d m-o-m, +51,000 b/d on last forecast)
  • Our total average US LTO forecast for 2016 is now 3.953 million b/d (+210,000 b/d on previous forecast, -586,000 b/d y-o-y) as we now forecast production declines to be more evenly balanced across 2016 and 2017
  • The top three Bakken operators have reported falling revenues in 1Q2016 by an average of 36% y-o-y
  • Whiting has announced a joint venture with an undisclosed partner to complete more wells, but we still expect a large production decline this year
  • Continuing the theme from last month's issue, we examine factors driving well costs in US LTO
 

Please purchase or subscribe to this report to continue reading or log in if you have already done so.


Not yet a subscriber?
Subscribe and Save 20%

If you are interested in a corporate subscription, please contact us at admin@petrologica.com or call us on +44(0)1206 823 295.