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Bakken Monitor – October 2017 Is Hamm Right To Be Cheesed Off With EIA?

North Dakota's oil production increased to 1.047 million b/d (+15,000 b/d m-o-m or 1.5%) in July, ahead of our forecast. We forecast August production higher, reflecting updated production data incorporated into our well profiles. Our 2017 average US LTO production forecast remains unchanged. Wood Mackenzie joins a growing chorus of analysts increasingly sceptical of LTO’s long-term growth capabilities as they focus on the risks of intensive drilling. We analyse Continental Resources CEO Harold Hamm's claim that optimistic EIA production forecasts are depressing oil prices....

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