How Good Are The "New" Bakken Wells? An Old Graphic Is Fairly Staggering -- November 26, 2018

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Title : How Good Are The "New" Bakken Wells? An Old Graphic Is Fairly Staggering -- November 26, 2018
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    How Good Are The "New" Bakken Wells? An Old Graphic Is Fairly Staggering -- November 26, 2018

    Re-posting from November 21, 2018.
    I wasn't sure if I would ever see this: a reversal in the downward trend of the average amount of oil being produced by North Dakota wells.

    After a peak in the early days of the boom, the daily production per well in North Dakota began to fall, hitting an all-time (recent) low of 72 bbls/well/day. I was curious if/when it would level out and if it did level out, at what amount would it plateau?

    Well, lookeee here --- after several years of steady decline, the average amount of oil being produced per each North Dakota well increased in the most recent reporting period.

    While looking for something else, I ran across this graphic from 2017:

    Visually, the graph below is much more impressive than the spreadsheet above.

    Note that in the graph below, "91," the current average daily well production is almost off the chart.


    A number of observations could be made regarding the graph. The most obvious one: shale operators can respond very quickly to changes in WTI pricing. Note how the operators cut back on initial production during the Saudi Surge.


    Thus Article How Good Are The "New" Bakken Wells? An Old Graphic Is Fairly Staggering -- November 26, 2018

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