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Linn Energy, LLC (LINE) Message Board

  • rlp2451 rlp2451 Mar 15, 2013 1:10 PM Flag

    OT: Bakken January Production "Falls Sharply" Despite Record Wells In Service

    I wonder why and how that happened?

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    • Oops....
      concerned about ND oil?

      I wouldn't loose any sleep.

      But,
      I wonder what happened over in the Marcellus.....did you even check (or search) Pa. data recently?

      Try it over here:

      DEP OFFICE OF OIL AND GAS MANAGEMENT
      SPUD DATA

      3/15/2013

      SPUD Begin Date: 2/1/2013; SPUD End Date: 3/1/2013; County: All; Municipality: All; Region: All; Operator: All; Unconventional: No

      • 1 Reply to sandonthebeach47
      • I don't know what that gibberish means, but I do know this:

        The State of Pennsylvania currently accounts for the majority of the Marcellus production. Latest official data from Pennsylvania shows that during the second half of 2012 production from the State's portion of the Marcellus averaged approximately 6.3 Bcfe/d. Production volumes ramped up significantly towards the end of the year as new high-pressure gathering lines and field compression were put in service. Based on analysis of pipeline, operator and EIA 914 data, Pennsylvania Marcellus 2012 exit rate likely was in the 7.0-7.1 Bcf/d range. Production continued to ramp up in January and February and may have approached 7.5 Bcf/d by this time.

        SO, gas production is PA is rapidly INCREASING while Bakken oil is rapidly DECREASING.

        Your point?

    • OH, You wonder...LOL.
      You would already know if you read what you cut and paste from.

      "3/15/2013
      Page 1 of 3
      Director’s Cut
      Lynn Helms
      NDIC Department of Mineral Resources

      Dec Oil 23,873,431 barrels = 770,111 barrels/day
      Jan Oil 22,878,682 barrels = 738,022 barrels/day (preliminary)(all-time high was 770,111 barrels per day in Dec 2012)
      Dec Gas 25,362,710 MCF = 818,152 MCF/day
      Jan Gas 24,584,184 MCF = 793,038 MCF/day (preliminary)(all-time high was 818,152 MCF/day in Dec 2012)
      Dec Producing Wells = 8,237
      Jan Producing Wells = 8,322 (preliminary)(NEW all-time high)
      Dec Permitting: 154 drilling and 1 seismic
      Jan Permitting: 218 drilling and 0 seismic
      Feb Permitting: 185 drilling and 2 seismic (all time high was 370 in Oct 2012)
      Dec Sweet Crude Price = $77.09/barrel
      Jan Sweet Crude Price = $87.89/barrel
      Feb Sweet Crude Price = $87.98/barrel
      Today Sweet Crude Price = $87.00/barrel (all-time high was $136.29 July 3, 2008)
      Dec rig count 184
      Jan rig count 185
      Feb rig count 183
      Today’s rig count is 187 (all-time high was 218 on May 29, 2012)

      Comments:
      January brought us winter storm Gandolph followed by over a week of sub-zero temperatures and wind chills. Even though the drilling rig count held in the middle 180s rig efficiency fell and the number of well completions plummeted 26% to 85. That number of completions is half previous 12 month average and below the threshold needed to maintain production. Oil production rate fell sharply down 4.2% from December. Operators continuing to push for higher efficiency rigs and implement cost cutting measures. The uncertainty surrounding future federal policies on taxation and hydraulic fracturing remain. Over 95% of drilling still targets the Bakken and Three Forks formations.
      We estimate that at the end of January there were about 410 wells waiting on completion services.

      3/15/2013
      Page 2 of 3
      Crude oil take away capacity continues to be adequate with a majority of North Dakota’s oil now shipped by rail to east coast, gulf coast, a

 
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