N.D. gas production and producing wells set records again
The North Dakota Industrial Commission has released its latest Oil and Gas Production Report, outlining hydrocarbon activity in the state for October 2017.
Production was up across the board in October, with both oil and gas output increasing.
Oil production jumped significantly, reaching 1,185 MBOPD, from 1,107 MBOPD in September. Production is nearing record levels, as the all-time high for North Dakota oil production was 1,227 MBOPD, set in December 2014. The vast majority of this production comes from the Bakken and Three Forks formations, only 54 MBOPD is produced from conventional formations.
N.D. natural gas sets another record, flaring rate falls again
Gas production continues to set new records, reaching 2,061 MMcf/d in October. This marks the fifth time in the last seven months that gas output has set a new record. Flaring rates fell this month to 16%, from 17% in September. Rates should continue to decrease, as a new gas gathering system started operations in November.
Total number of producing wells sets another record
The number of producing wells in the state has been rising continuously for the entire year, and has set records for the past eight months in a row. There are now 14,250 producing wells in North Dakota, up from 14,199 in September.
Operators applied for 119 drilling permits in November, down from 147 in October but above most months this year. According to the NDIC, operators are maintaining a permit inventory that would accommodate variable price points for the next 12 months.
ND reports 889 DUCs
Wind speeds were too high for completions work in half of October, meaning only 70 wells were completed during the month, down from 86 in September. There are now an estimated 889 wells waiting on completion, up by 36 from the end of September.
