Oil And Gas Production Rise In November
North Dakota Department of Mineral Resources Director Nathan Anderson released his Director’s Cut for January on Friday, Jan. 17. The report shows that oil production rose in November, as did gas production.
Oil production in November was at 36,632,194 barrels, or 1,221,073 barrels per day RF, up from October’s production of 36,517,562 barrels, or 1,177,986 barrels per day. November’s production was 11% above the revenue forecast of 1,100,000 barrels per day. 1,189,136 barrels per day, or 97%, came from Bakken and Three Forks wells, and 31,937 barrels per day, or 3%, came from Legacy Pools.
Production in Mountrail County went from 8,050,445 barrels in October to 8,019,214 in November. There were 3,553 wells producing in October, rising to 3,575 in November with 4,037 wells capable of producing in November. Production in Mountrail County was third behind McKenzie and Dunn Counties, respectively.
Meanwhile, the price of crude was below the revenue forecast during the same time. It averaged $65.00 on the ND market in October and $63.63 in November. The price on Friday, Jan. 17 was at $78.46 on the WTI. The revenue forecast is based on a ND Market price of $70.00.
Gas production in November was 103,946,998 MCF, or 3,464,900 MCF per day with a 95% capture rate equaling 99,144,992 MCF, or 3,304,833 MCF per day. That was up from October’s production of 105,966,311 MCF, or 3,418,268 MCF per day with a 94% capture rate of 100,018,167 MCF, or 3,226,392 MCF per day.
Production in Mountrail County went from 17,008,145 MCF in October to 16,387,720 MCF in November. That figure was fourth behind McKenzie, Williams and Dunn Counties, respectively.
There were 111 wells permitted in October, 78 in November and 87 in December.
The rig count was at 39 in October, dropping to 37 in November and 36 in December. That number dropped further to 31 on Friday, Jan. 17.
There were 376 wells waiting on completion in September, 331 in October and 301 in November.
Inactive wells sat at 1,903 in September, dropping to 1,796 in October and rising to 2,012 in November.
There were 95 wells completed in October, 98 in November and 89 in December.
The number of producing wells dropped from 19,334 in October to 19,266 in November. 17,121 wells, or 89%, are now unconventional Bakken/Three Forks Wells, while 2,145 wells, or 11%, produce from legacy conventional pools.
Looking at Fort Berthold Reservation activity, oil production was at 172,554 barrels per day, 65,485 from fee land and 107,069 from trust land. With two drilling rigs, both are on trust land.
Of the 2,956 active wells, 709 are on fee land, and 2,247 on trust land. There are two wells waiting on completion. Of the 135 approved drilling permits, 7 are on fee land and 128 on trust land.
In his comments, Anderson said, “The drilling rig count remains steady and is expected to remain at similar levels through 2025. Mergers and acquisitions continue to occur, and it is expected that integrations of these companies occur in the coming year.
There are 14 frac crews currently active.
Operators continue to maintain a drilling permit inventory of approximately 12 months while DMR permit timing remains steady around 40 days. DMR continues to see longer lateral permit applications trending from 2 mile laterals to 3 and 4 mile laterals.