Bakken oil production reached a new all-time high.

The North Dakota Industrial Commission said Thursday that crude production increased to 782,812 barrels of oil a day in March.

In February, it grew 6.1 percent to more than 715,000 barrels.

The rig count in North Dakota’s Bakken is up to 191 from 186 in March and April, as noted in the monthly report by Lynn Helms, director of the North Dakota Department of Mineral Resources.

“Operators are gradually picking up the pace as summer weather begins while continuing to push higher efficiency and cost-cutting measures,” he said.

New all-time highs were also reached in producing wells (8,634) and natural gas production (846,906 MCF a day).

Helms noted the rig count in the Williston Basin was stable and that drilling permit activity was down slightly in April.

“There is a sufficient permit inventory to accommodate multi-well pads, the inability to construct locations during load restrictions, and the time required to deal with federal hydraulic fracturing rules if required,” he added.

Construction of processing plants and gathering systems for natural gas was at a “standstill” until recently, Helms said.

U.S. natural gas storage is now 5 percent below the five-year average, indicating it has bottomed, but low prices are expected for the foreseeable future.

Natural gas production increased 1.5 percent in comparison to a 0.5 percent increase in oil production.

The percentage of gas flared fell to 29 percent.

The rig count on the Dakota Prairie Grasslands was unchanged from last report and remains at four.

Rigs on Forth Berthold Reservation went down one to 26, with five on fee lands and 21 on trust lands.

The reservation has 875 active wells producing 150,959 barrels of oil a day, with 170 wells awaiting completion and 287 drilling permits having been approved.

Helms said he foresees 2,477 additional potential future wells on the reservation.

 


Comments

04/06/2015 4:37am

The thing is that when we instruct our child and try to make them be a doctor one day then most of the child start thinking like only doctors, engineers, or that professionals who have high earning have respect in their lives.

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